KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Thu, 20 Feb 2020, 5:16 PM


Daily Market Update - 26 Jul 2019 (CRESBLD, KPOWER)

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Dow Jones: 27,140.98 pts (-128.99pts, -0.47%)
U.S. stockmarkets retreated as the Dow fell 0.5% on expectations over the less aggressive interest rate cut from the U.S. Federal Reserve, coupled with a series of sluggish corporate earnings. The immediate resistance is located at 27,500.

FBM KLCI: 1,656.58 pts (+4.17pts, +0.25%)
The FBM KLCI (+0.3%) recovered all its previous session losses, in line with gains across its regional peers yesterday. The immediate resistance is located at 1,670.

Crude Palm Oil: RM2,058 (+RM29, +1.43%)
Crude palm oil prices rallied for the fourth straight session, taking cue from higher soybean oil prices, coupled with the record high biodiesel export. The immediate resistance is located around RM2,100.

WTI Crude Oil: $56.02 (+$0.14, +0.25%)
Crude oil prices chalked in mild gains on the back of declining U.S. supply. The immediate resistance is located at US$60.

Gold: $1,414.58 (-$11.28, -0.79%)
Gold prices formed a bearish engulfing candle to reverse all its previous session gains on the less dovish U.S. Federal Reserve stance on interest rate cut. The immediate support is located around $1,400.

Technical Trading Stocks - 26 Jul 19 
Stock Name: CRESBLD (8591)
Entry: Buy above RM1.08
Target: RM1.14 (5.6%), RM1.21 (12.0%)
Stop: RM1.03 (-4.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: KPOWER (7130)
Entry: Buy above RM0.785
Target: RM0.885 (12.7%), RM0.95 (21.0%)
Stop: RM0.73 (-7.0%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online



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Related Stocks

Chart Stock Name Last Change Volume 
CRESBLD 0.92 -0.01 (1.08%) 417,300 
KPOWER 2.90 -0.04 (1.36%) 270,100 

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