KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 4 Aug 2020, 5:08 PM


Daily Market Update - 18 Jun 2019 (IGBREIT, KAREX)

Author:   |    Publish date:

Dow Jones: 26,112.53 pts (+22.92pts, +0.09%)
U.S. stockmarkets chalked in mild gains as the Dow rose 0.1% in anticipation of more clues on interest rate direction in the upcoming U.S. Federal Reserve meeting. The immediate resistance is located at 27,000.

FBM KLCI: 1,638.40 pts (-0.23pts, -0.01%)
The FBM KLCI erased all its intraday gains, dragged down by the eleventh hour quick profit taking in selected index heavyweights yesterday. The immediate resistance is located at 1,660.

Crude Palm Oil: RM2,034 (+RM16, +0.79%)
Crude palm oil prices formed a bullish engulfing candle to extend its gains, mirroring the higher soybean oil prices, coupled with the weaker Ringgit against the Greenback. The immediate support is located around RM1,950.

WTI Crude Oil: $51.93 (-$0.58, -1.10%)
Crude oil prices halted a two-day winning streak in anticipation that OPEC could not meet the targeted deadline production cut. The immediate resistance is located at US$55.

Gold: $1,339.66 (-$2.04, -0.15%)
Gold prices extended its losses after the U.S. Dollar rallied against a basket of currencies. The immediate resistance is located around $1,350.

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

Technical Trading Stocks - 18 Jun 19 
Stock Name: IGBREIT (5227)
Entry: Buy above RM1.90
Target: RM1.95 (2.6%), RM1.98 (4.2%)
Stop: RM1.85 (-2.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: KAREX (5247)
Entry: Buy above RM0.535
Target: RM0.585 (9.3%), RM0.615 (15.0%)
Stop: RM0.495 (-7.5%)
Shariah: No
Technical: Consolidation 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 
IGBREIT 1.79 -0.01 (0.56%) 524,300 
KAREX 0.97 +0.30 (44.78%) 79,014,800 

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