KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Thu, 23 Jan 2020, 8:56 AM


Daily Market Update - 21 Aug 2019 (VS, KGB)

Author:   |    Publish date:

Dow Jones: 25,962.44 pts (-173.35pts, -0.66%)
U.S. stockmarkets retreated as the Dow (-0.7%) snapped a three-day winning streak, dragged down by fresh concern over economic growth coupled with the political instability in the Eurozone. The immediate resistance is located at 26,500.

FBM KLCI: 1,602.75 pts (+6.30pts, +0.39%)
The FBM KLCI re-claim the 1,600 psychological level after lingering in the positive territory for the entire trading session, taking cue from the positive sentiment on Wall Street overnight. The immediate resistance is located at 1,610.

Crude Palm Oil: RM2,177 (+RM21, +0.97%)
Crude palm oil prices rebounded alongside with the gains across oil-related commodities, coupled with the weaker Ringgit against the Greenback. The immediate support is located around RM2,100.

* WTI Crude Oil: $56.34 (+$0.13, +0.23%)*
Crude oil prices chalked In minor gains in anticipation of decline in U.S. weekly supply level. The immediate resistance is located at US$58.

Gold: $1,507.20 (+$11.28, +0.75%)
Gold prices rebounded after the U.S. Dollar retreated against a basket of currencies. The immediate resistance is located around $1,550.

Economic Releases:
US - United States' Existing Home Sales, 10.00PM

Technical Trading Stocks - 21 Aug 19 
Stock Name: VS (6963)
Entry: Buy above RM1.16
Target: RM1.26 (8.6%), RM1.32 (13.8%)
Stop: RM1.11 (-4.3%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: KGB (0151)
Entry: Buy above RM1.29
Target: RM1.38 (7.0%), RM1.41 (9.3%)
Stop: RM1.21 (-6.2%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online



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Labels: VS, KGB

Related Stocks

Chart Stock Name Last Change Volume 
VS 1.48 -0.01 (0.67%) 877,500 
KGB 1.38 +0.02 (1.47%) 457,300 

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