KLSE Traders Update and Ideas

Daily Market Update - 18 Mar 2019 (REVENUE, CAB)

mplus313
Publish date: Mon, 18 Mar 2019, 10:07 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,848.87 pts (+138.93pts, +0.54%)
Wall Street closed higher last Friday as the Dow gained 0.5%, driven by optimism over U.S. and China trade deal progress. The immediate resistance is located at 26,000.

FBM KLCI: 1,680.54 pts (+6.02pts, +0.36%)
The FBM KLCI (+0.4%) recovered all its previous session losses after lingering mostly in the positive territory on last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,112 (+RM7, +0.33%)
Crude palm oil prices snapped an eight-day losing streak to edge marginally higher in line with gains across other oil-related commodities. The immediate support is located around RM2,050.

WTI Crude Oil: $58.52 (-$0.09, -0.15%)
Crude oil prices retreated for the first time in five days amid the rising U.S. production. The immediate resistance is located at US$60.

Gold: $1,302.40 (+$6.23, +0.48%)
Gold prices rebounded as the Brexit uncertainty will drag beyond the end-March 2019 deadline. The immediate resistance is located around $1,350.

Economic Releases:
JP - Japan's Industrial Production, 12.30PM

Technical Trading Stocks - 18 Mar 19 
Stock Name: REVENUE (0200)
Entry: Buy above RM1.24
Target: RM1.34 (8.1%), RM1.38 (11.3%)
Stop: RM1.18 (-4.8%)
Shariah: Yes
Technical: Consolidation breakout

Stock Name: CAB (7174)
Entry: Buy above RM0.615
Target: RM0.68 (10.6%), RM0.72 (17.1%)
Stop: RM0.58 (-5.7%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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