KLSE Traders Update and Ideas

Daily Market Update - 19 Mar 2019 (CYPARK, DPHARMA)

mplus313
Publish date: Tue, 19 Mar 2019, 08:54 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,914.10 pts (+65.23pts, +0.25%)
U.S. stockmarkets extended their gains as the Dow (+0.3%) advanced for the fourth straight session, lifted by the rally in crude oil prices. The immediate resistance is located at 26,000.

FBM KLCI: 1,690.94 pts (+10.40pts, +0.62%)
The FBM KLCI (+0.6%) extended its gains yesterday, spurred by the progress over the Sino-U.S. trade deal as gains were line with the positive sentiment across the Asia Pacific region. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,105 (-RM7, -0.33%)
Crude palm oil prices retreated after the Ringgit strengthened against the Greenback. The immediate support is located around RM2,000.

WTI Crude Oil: $59.09 (+$0.57, +0.97%)
Crude oil prices advanced to its highest level year-to-date after OPEC pledged their support to continue production cut until June 2019. The immediate resistance is located at US$60.

Gold: $1,303.71 (+$1.31, +0.10%)
Gold prices extended its gains after the U.S. Dollar retreated against a basket of currencies. The immediate resistance is located around $1,350.

Economic Releases:
UK - United Kingdom's Unemployment Rate, 5.30PM

Technical Trading Stocks - 19 Mar 19 
Stock Name: CYPARK (5184)
Entry: Buy above RM1.76
Target: RM1.86 (5.7%), RM1.92 (9.1%)
Stop: RM1.69 (-4.0%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: DPHARMA (7148)
Entry: Buy above RM1.13
Target: RM1.18 (4.4%), RM1.22 (8.0%)
Stop: RM1.08 (-4.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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