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KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Wed, 13 Nov 2019, 8:40 AM

 

Daily Market Update - 13 Sept 2019 (Pos Malaysia Bhd, Mi Technovation Bhd)

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Dow Jones: 27,182.45 pts (+45.41pts, +0.17%)
U.S. stockmarkets extended their gains as the Dow (+0.2%) advanced for the seventh straight session on the simmering trade tension between U.S. and China. The immediate resistance is located at 27,400.

FBM KLCI: 1,601.00 pts (-1.30pts, -0.08%)
The FBM KLCI (-0.1%) edged lower after erasing all its intraday losses after Bank Negara maintained its overnight policy rate (OPR) at 3.0%. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,189 (-RM17, -0.77%)
Crude palm oil prices extended its losses on expectations over the sluggish export demand from India, coupled with the firmer Ringgit against the Greenback. The immediate support is located around RM2,150.

WTI Crude Oil: $55.09 (-$0.66, -1.19%)
Crude oil prices trended lower for the third straight session after OPEC and its allies urged to comply with the agreed production cut to trim the high inventory level. The immediate resistance is located at US$58.

Gold: $1,499.26 (+$2.06, +0.14%)
Gold prices extended its gains amid the lingering concern over global economic growth after the European Central Bank trims its benchmark interest rates by -0.1% to -0.5% and restarted its quantitative easing program with monthly €20.0 bln bond purchases starting 1st November 2019. The immediate support is located around $1,450.

Economic Releases:
MY - Malaysia's Unemployment Rate, 12.00PM
JP - Japan's Industrial Production, 12.30PM
US - United States' Retail Sales, 8.30PM

M+ Online Technical Trading Stocks - 13Sep19

Stock Name: Pos Malaysia Bhd (4634)
Entry: Buy above RM1.62
Target: RM1.80 (11.1%), RM1.86 (14.8%)
Stop: RM1.54 (-4.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: Mi Technovation Bhd (5286)
Entry: Buy above RM1.98
Target: RM2.14 (8.1%), RM2.28 (15.2%)
Stop: RM1.83 (-7.6%)
Shariah: Yes
Technical: Pennant-formation 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: MI, POS

Related Stocks

Chart Stock Name Last Change Volume 
MI 2.39 -0.01 (0.42%) 486,600 
POS 1.45 0.00 (0.00%) 1,976,900 

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