KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 24 Jan 2020, 2:13 PM


Daily Market Update - 3 May 2019 (HUMEIND, SIGGAS)

Author:   |    Publish date:

Dow Jones: 26,307.79 pts (-122.35pts, -0.46%)
U.S. stockmarkets extended their losses as the Dow fell 0.5%, dragged down by energy shares amid the fresh weakness in crude oil prices. The immediate support is located at 26,000.

FBM KLCI: 1,632.24 pts (-10.05pts, -0.61%)
The FBM KLCI (-0.6%)  formed a bearish engulfing candle yesterday, bogged down by the weakness in crude oil and crude palm oil prices that offset the recovery in Nikkei Purchasing Manager's Index data in April 2019 that rose to 49.4 - the highest in seven months. The immediate support is located at 1,610.

Crude Palm Oil: RM2,032 (-RM63, -3.01%)
Crude palm oil prices slumped for the fifth straight session to close at its lowest level since mid-December 2018, taking cue from the weakness in soybean oil prices, coupled with the on-going concern over the elevated stockpile level. The immediate support is located around RM2,000.

WTI Crude Oil: $61.81 (-$1.79, -2.81%)
Crude oil prices extended its losses, as U.S. sanctions against Iran offset the sharper increase in U.S. stockpile level. The immediate support is located at US$60.

Gold: $1,270.69 (-$6.07, -0.48%)
Gold prices extended its losses to close at four-month low after the U.S. Federal Reserve brushed aside the possibility of an interest rate cut. The immediate support is located around $1,250.

Economic Releases:
EU - Eurozone's Producer Price Index, 5.00PM
US - United States' Unemployment Rate, 8.30PM
US - United States' Markit Composite PMI, 9.45PM
US - United States' Markit Services PMI, 9.45PM
US - United States' ISM Non-Manufacturing PMI, 9.45PM

Technical Trading Stocks - 3 May 19 
Stock Name: HUMEIND (5000)
Entry: Buy above RM0.75
Target: RM0.825 (10.0%), RM0.90 (20.0%)
Stop: RM0.69 (-8.0%)
Shariah: No
Technical: Symmetrical triangle formation breakout

Stock Name: SIGGAS (5181)
Entry: Buy above RM0.905
Target: RM0.995 (9.9%), RM1.03 (13.8%)
Stop: RM0.865 (-4.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online



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The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

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Related Stocks

Chart Stock Name Last Change Volume 
HUMEIND 1.38 -0.01 (0.72%) 113,500 
SIGGAS 0.425 +0.01 (2.41%) 72,100 

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