KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 28 Jan 2020, 5:44 PM


Daily Market Update - 24 May 2019 (TALIWRK, DNONCE)

Author:   |    Publish date:

Dow Jones: 25,490.47 pts (-286.14pts, -1.11%)
U.S. stockmarkets extended their losses as the Dow slipped 1.1% overnight as China is reported to rethink its entire economic relationship with the U.S. The immediate support is located at 25,000.

FBM KLCI: 1,601.87 pts (-1.87pts, -0.12%)
The FBM KLCI (-0.1%) extended its losses after lingering mostly in the negative territory in view of the downbeat CPO and crude oil prices, whilst the Ringgit weakened against the Greenback to its lowest level since November 2018. The immediate support is located at 1,580.

Crude Palm Oil: RM2,016 (-RM41, -1.99%)
Crude palm oil prices extended its losses, taking cue from the slump in soybean oil prices. The immediate support is located around RM2,000.

WTI Crude Oil: $57.91 (-$3.51, -5.74%)
Crude oil prices endured its worst single session year-to-date on the ballooning U.S. stockpile, coupled with the weaker-than-expected economic growth from U.S., Eurozone and Japan. The immediate resistance is located at US$60.

Gold: $1,283.45 (+$10.11, +0.79%)
Gold prices recovered all its previous two session of decline on the escalating Sino-U.S. trade tension. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM
MY - Malaysia's Inflation Rate, 12.00PM
UK - United Kingdom's Retail Sales, 4.30PM

Technical Trading Stocks - 24 May 19 
Stock Name: TALIWRK (8524)
Entry: Buy above RM0.95
Target: RM0.99 (4.2%), RM1.03 (8.4%)
Stop: RM0.91 (-4.2%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: DNONCE (7114)
Entry: Buy above RM0.475
Target: RM0.52 (9.5%), RM0.555 (16.8%)
Stop: RM0.43 (-9.5%)
Shariah: No
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 
TALIWRK 0.83 0.00 (0.00%)
DNONCE 0.38 0.00 (0.00%)

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