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KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 20 Sep 2019, 5:35 PM

 

Daily Market Update - 23 Aug 2019 (MIECO, MYEG)

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Dow Jones: 26,252.24 pts (+49.51pts, +0.19%)
U.S. stockmarkets finished on a mixed note as the Dow added 0.2% after enduring a choppy trading session, but the broader market closed in the negative territory overnight. The immediate resistance is located at 26,500.

FBM KLCI: 1,602.47 pts (+7.88pts, +0.49%)
Tracking the gains on Wall Street overnight, the FBM KLCI (+0.5%) recovered most of its previous session losses after hovering mostly in the positive territory yesterday. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,256 (+RM48, +2.17%)
Crude palm oil prices trended higher for the third straight session, hitting six-month high on optimism over rising demand from India ahead of festive season. The immediate resistance is located around RM2,300.

WTI Crude Oil: $55.35 (-$0.33, -0.59%)
Crude oil prices extended its losses amid the weak demand arising from the Sino-U.S. trade dispute. The immediate resistance is located at US$58.

Gold: $1,498.06 (-$4.59, -0.31%)
Gold prices extended its losses to close below the US$1,500 psychological level on a mixed bag of economic data, coupled with uncertainty over interest rate direction from central bankers. The immediate resistance is located around $1,550.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM
US - United States' New Home Sales, 10.00PM

Technical Trading Stocks - 23 Aug 19 
Stock Name: MIECO (5001)
Entry: Buy above RM0.33
Target: RM0.36 (9.1%), RM0.38 (15.2%)
Stop: RM0.31 (-6.1%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: MYEG (0138)
Entry: Buy above RM1.47
Target: RM1.53 (4.1%), RM1.60 (8.8%)
Stop: RM1.42 (-3.4%)
Shariah: Yes
Technical: Monitor for trendline 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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Labels: MIECO, MYEG

Related Stocks

Chart Stock Name Last Change Volume 
MIECO 0.28 +0.005 (1.82%) 1,405,400 
MYEG 1.44 0.00 (0.00%) 14,081,200 

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