KLSE Traders Update and Ideas

Author: mplus313   |   Latest post: Fri, 15 Nov 2019, 5:38 PM


Daily Market Update - 4 Oct 2019 (TEOSENG, POS)

Author:   |    Publish date:

Dow Jones: 26,201.04 pts (+122.42pts, +0.47%)
U.S. stockmarkets recovered from a two-day slump as the Dow gained 0.5% after the ISM services data in September 2019 stood at 52.6 - signalling the economy is still on expansion mode, albeit at a slower pace. The immediate support is located at 25,300.

FBM KLCI: 1,564.12 pts (-10.78pts, -0.68%)
The FBM KLCI (-0.9%) recorded its third straight session of decline, bogged down by the intensifying global trade war, coupled with concern over global economic growth. The immediate support is located at 1,550.

Crude Palm Oil: RM2,137 (-RM4, -0.19%)
Crude palm oil prices extended its losses, in line with the weakness across other oil-related commodities. The immediate support is located around RM2,100.

WTI Crude Oil: $52.45 (-$0.19, -0.36%)
Crude oil prices registered its eighth straight decline - the longest losing streak since December 2018 on expectations over swelling U.S. inventory level amid the sluggish demand. The immediate support is located at US$50.

Gold: $1,505.19 (+$5.74, +0.38%)
Gold prices trended higher for the third straight session on expectations over another interest rate cut by the U.S. Federal Reserve later this year. The immediate resistance is located around $1,550.

Economic Releases:
US - United States' Unemployment Rate, 8.30PM

M+ Online Technical Trading Stocks - 4 Oct 19

Stock Name: TEOSENG (7252)
Entry: Buy above RM1.16
Target: RM1.27 (9.5%), RM1.31 (12.9%)
Stop: RM1.10 (-5.2%)
Shariah: No
Technical: Monitor for breakout

Stock Name: POS (4634)
Entry: Buy above RM1.70
Target: RM1.80 (5.9%), RM1.86 (9.4%)
Stop: RM1.620 (-4.7%)
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 
TEOSENG 1.32 +0.01 (0.76%) 982,800 
POS 1.43 -0.01 (0.69%) 1,472,800 

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