KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Tue, 19 Nov 2019, 6:01 PM


Daily Market Update - 16 Apr 2019 (KIMLUN, REVENUE)

Author:   |    Publish date:

Dow Jones: 26,384.77 pts (-27.53pts, -0.10%)
U.S. stockmarkets retreated as the Dow fell 0.1%, dragged down by weakness in selected banking shares like Goldman Sach and Citigroup after reporting disappointing set of quarterly earnings. The immediate resistance is located at 27,000.

FBM KLCI: 1,631.33 pts (+1.16pts, +0.07%)
The FBM KLCI (+0.1%) extended its gains in line with the mostly positive performance across its regional peers as the Ringgit appreciated against the Greenback. The immediate resistance is located at 1,650.

Crude Palm Oil: RM2,161 (-RM23, -1.05%)
Crude palm oil prices declined as stockpiles level remain elevated due to the weaker-than-expected demand. The immediate support is located around RM2,100.

WTI Crude Oil: $63.40 (-$0.49, -0.77%)
Crude oil prices retreated on concern over the potential sluggish demand arising from the weak corporate earnings. The immediate resistance is located at US$67.

Gold: $1,287.95 (-$2.48, -0.19%)
Gold prices extended its losses on optimism over U.S. and China trade negotiation progress. The immediate resistance is located around $1,350.

Economic Releases:
UK - United Kingdom's Unemployment Rate, 4.30PM
US - United States' Retail Sales, 8.30PM
US - United States' Manufacturing Production, 9.15PM
US - United States' Industrial Production, 9.15PM

Technical Trading Stocks - 16 Apr 19 
Stock Name: KIMLUN (5171)
Entry: Buy above RM1.22
Target: RM1.30 (6.6%), RM1.35 (10.7%)
Stop: RM1.17 (-4.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: REVENUE (0200)
Entry: Buy above RM1.27
Target: RM1.38 (8.7%), RM1.46 (15.0%)
Stop: RM1.19 (-6.3%)
Shariah: Yes
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 
KIMLUN 1.30 +0.01 (0.78%) 80,800 
REVENUE 1.74 +0.02 (1.16%) 713,200 

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