KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 13 Oct 2020, 5:16 PM


Daily Market Update - 17 May 2019 (SERBADK, GADANG)

Author:   |    Publish date:

Dow Jones: 25,862.68 pts (+214.66pts, +0.84%)
U.S. stockmarkets trended higher for the third straight session as the Dow gained 0.8%, boosted by strong corporate earnings from Cisco Systems and Walmart Inc. The immediate resistance is located at 26,000.

FBM KLCI: 1,599.19 pts (-12.24pts, -0.76%)
The FBM KLCI (-0.8%) erased all its previous session gains, dragged down by quick profit taking activities yesterday. The immediate support is located at 1,580.

Crude Palm Oil: RM2,096 (+RM51, +2.49%)
Crude palm oil prices recorded its fourth straight session of advance, taking cue from the firmer soybean oil prices, coupled with the decline in Indonesia reserves level. The immediate resistance is located around RM2,100.

WTI Crude Oil: $62.87 (+$0.85, +1.38%)
Crude oil prices extended its gains on the prolonged geopolitical tension in Middle East. The immediate resistance is located at US$67.

Gold: $1,286.72 (-$9.77, -0.75%)
Gold prices extended its losses on the return of investors' preference in riskier assets. The immediate resistance is located around $1,300.

Economic Releases:
EU - Eurozone's Construction Output, 5.00PM
EU - Eurozone's Inflation Rate, 5.00PM

Technical Trading Stocks - 17 May 19 
Stock Name: SERBADK (5279)
Entry: Buy above RM4.01
Target: RM4.22 (5.2%), RM4.28 (6.7%)
Stop: RM3.89 (-3.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: GADANG (9261)
Entry: Buy above RM0.83
Target: RM0.89 (7.2%), RM0.96 (15.7%)
Stop: RM0.79 (-4.8%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Source: Bloomberg, M+ Online



The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

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 
SERBADK 1.70 0.00 (0.00%) 11,853,500 
GADANG 0.40 -0.01 (2.44%) 1,929,100 

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