KLSE Traders Update and Ideas

Daily Market Update - 14 Mar 2019 (SUNCON, DELEUM)

mplus313
Publish date: Thu, 14 Mar 2019, 08:41 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,702.89 pts (+148.23pts, +0.58%)
U.S. stockmarkets advanced as the Dow rose 0.6%, boosted by the strong U.S. construction spending that rose 1.3% Y.o.Y in January 2019 - the biggest expansion in nine months. The immediate resistance is located at 26,000.

FBM KLCI: 1,678.24 pts (+6.96pts, +0.42%)
Buying support in selected banking heavyweights boosted the FBM KLCI (+0.4%) higher yesterday amid the mixed regional market sentiment. The immediate resistance is located at 1,680.

Crude Palm Oil: RM2,091 (-RM25, -1.18%)
Crude palm oil prices recorded its sixth straight session of decline after Indonesia has set its CPO export levy at 0% from March 2019 to May 2019. The immediate support is located around RM2,000.

WTI Crude Oil: $58.26 (+$1.39, +2.45%)
Crude oil prices advanced to four-month high, boosted by an unexpected decline in U.S. weekly crude stockpiles and a larger-than-expected drop in gasoline inventories. The immediate resistance is located at US$60.

Gold: $1,309.12 (+$7.54, +0.58%)
Gold prices extended its gains amid fresh uncertainty over Brexit deal. The immediate resistance is located around $1,350.

Economic Releases:
CN - China's Retail Sales, 10.00AM
CN - China's Industrial Production, 10.00AM
MY - Malaysia's Industrial Production, 12.00PM

Potential Momentum Stocks - 14 Mar 19 
Stock Name: SUNCON (5263)
Entry: Buy above RM1.83
Target: RM1.93 (5.5%), RM2.02 (10.4%)
Stop: RM1.73 (-5.5%)
Shariah: Yes
Technical: Resistance breakout

Stock Name: DELEUM (5132)
Entry: Buy above RM1.12
Target: RM1.21 (8.0%), RM1.28 (14.3%)
Stop: RM1.06 (-5.4%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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moneykj

Go wallop Redtone

2019-03-14 08:42

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