KLSE Traders Update and Ideas

Daily Market Update - 13 Mar 2019 (WCEHB, RANHILL)

mplus313
Publish date: Wed, 13 Mar 2019, 08:35 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,554.66 pts (-96.22pts, -0.38%)
U.S. stockmarkets finished mixed overnight as the Dow slipped 0.4%, dragged down by the unabated selling pressure in Boeing (-6.1%), but the S&P 500 added 0.3%. The immediate resistance is located at 26,000.

FBM KLCI: 1,671.28 pts (+6.65pts, +0.40%)
The FBM KLCI (+0.4%) rebounded in tandem with gains across the Asia Pacific region, boosted by positive developments over the trade talks between U.S. and China. The immediate resistance is located at 1,680.

Crude Palm Oil: RM2,116 (-RM3, -0.14%)
Crude palm oil prices erased all its intraday gains to close lower for the fifth straight session on lingering concern over the rising stockpiles. The immediate support is located around RM2,100.

WTI Crude Oil: $56.87 (+$0.08, +0.14%)
Crude oil prices extended its gains, lifted by the unexpected decline in U.S. production level. The immediate resistance is located at US$60.

Gold: $1,301.58 (+$8.23, +0.64%)
Gold prices rebounded, boosted by the weakness in the Greenback against a basket of currencies. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Producer Price Index, 7.50AM
MY - Malaysia's Retail Sales, 12.00PM
EU - Eurozone's Industrial Production, 6.00PM
US - United States' Producer Price Index, 8.30PM

Potential Momentum Stocks - 13 Mar 19 
Stock Name: WCEHB (3565)
Entry: Buy above RM0.56
Target: RM0.605 (8.0%), RM0.65 (16.1%)
Stop: RM0.52 (-7.1%)
Shariah: Yes
Technical: Resistance breakout

Stock Name: RANHILL (5272)
Entry: Buy above RM1.35
Target: RM1.52 (12.6%), RM1.60 (18.5%)
Stop: RM1.23 (-8.9%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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moneykj

Go to wallop Redtone. Poised to announce very good results.

2019-03-13 08:47

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