KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 16 Aug 2019, 5:31 PM


Daily Market Update - 3 Jun 2019 (GADANG, SIGGAS)

Author:   |    Publish date:

Dow Jones: 24,815.04 pts (-354.84pts, -1.41%)
U.S. stockmarkets erased all their previous session gains as the Dow sank 1.4% last Friday, dragged down by the fresh global trade tension between U.S. and Mexico. The immediate support is located at 24,000.

FBM KLCI: 1,650.76 pts (+14.26pts, +0.87%)
Late gains in selected index heavyweights powered the FBM KLCI (+0.9%) higher for the fifth straight session amid the mostly negative regional peers. The immediate resistance is located at 1,670.

Crude Palm Oil: RM2,069 (-RM15, -0.72%)
Crude palm oil prices erased all its intraday gains to extend its losses after the Ringgit appreciated against the Greenback. The immediate support is located around RM2,000.

WTI Crude Oil: $53.50 (-$3.09, -5.38%)
Crude oil prices sank deeper amid the renewed global trade tension might dampen demand, coupled with lower-than-expected decline in U.S. inventory level. The immediate resistance is located at US$60.

Gold: $1,305.58 (+$16.93, +1.32%)
Gold prices trended higher for the third straight session as renew volatility in riskier assets spooked investors sentiment. The immediate resistance is located around $1,300.

Economic Releases:
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 4.00PM
US - United States' ISM Manufacturing PMI, 10.00PM

Technical Trading Stocks - 3 Jun 19 
Stock Name: GADANG (9261)
Entry: Buy above RM0.845
Target: RM0.92 (8.9%), RM0.96 (13.6%)
Stop: RM0.785 (-7.1%)
Shariah: Yes
Technical: Symmetrical triangle formation breakout

Stock Name: SIGGAS (5181)
Entry: Buy above RM0.90
Target: RM0.945 (5.0%), RM0.995 (10.6%)
Stop: RM0.87 (-3.3%)
Shariah: Yes
Technical: Monitor for 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 
GADANG 0.735 -0.005 (0.68%) 1,773,000 
SIGGAS 0.955 0.00 (0.00%) 60,000 

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