Highlights

KLSE Traders Update and Ideas

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

 

Daily Market Update - 5 Aug 2020

Author:   |    Publish date:


Dow Jones: 26,828.47 pts (+164.07pts, +0.62%)
⬆ Resistance:  27400
⬇ Support:  25500

FBM KLCI: 1,575.94 pts (+3.33pts, +0.21%)
⬆ Resistance:  1660
⬇ Support:  1520

HSI Index: 24,946.63 pts (+488.50pts, +2.00%)
⬆ Resistance:  25800
⬇ Support:  23800

Crude Palm Oil: RM2,768 (+RM37, +1.35%)
⬆ Resistance:  2870
⬇ Support:  2550

Brent Oil: $44.43 (+$0.28, +0.63%)
⬆ Resistance:  45.80
⬇ Support:  40.60

Gold: $2,019.21 (+$42.23, +2.14%)
⬆ Resistance:  2070
⬇ Support:  1910

M+ Online Technical Focus - 5 Aug 20
Plantation sector: Climbing another level

Trading Catalyst
• Crude palm oil prices (CPO) have now soared towards around the RM2,800 per tonne level; the highest in six months amid the improving demand prospects.
• The positive momentum is reflective of the Malaysian Palm Oil Council (MPOC) move to revise the price outlook to a high of RM2,994 per tonne, from RM2,594 per tonne announced earlier.
• At the same time, soybean prices also on the move, rising towards their highest level in recent months.
• Uprising demand with countries began their re-stocking activities post lockdowns with processed palm oil stock falling 15.8% MoM in June 2020.

Technical View

(i) JTIASA (S: RM0.575, R: RM0.695-0.76, LT TP:RM0.86, CL:RM0.57)
(ii) TSH (S: RM0.965, R: RM1.19-1.25, LT TP:RM1.4, CL:RM0.96)

S: Support, R: Resistance, LT TP: Long term target price, CL: Cut loss

Source: Bloomberg, M+ Online

 

Disclaimer

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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Labels: JTIASA

Related Stocks

Chart Stock Name Last Change Volume 
JTIASA 0.835 +0.015 (1.83%) 3,252,800 

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