KLSE Traders Update and Ideas

Daily Market Update - 21 Mar 2019 (VS, KPS)

mplus313
Publish date: Thu, 21 Mar 2019, 08:24 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,745.67 pts (-141.71pts, -0.55%)
U.S. stockmarkets extended their losses overnight as the Dow fell 0.6%, dragged down by fresh concern over the Sino-U.S. trade deal that offset the U.S. Federal Reserve dovish stance on not raising any interest rates for the remainder of the year. The immediate resistance is located at 26,000.

FBM KLCI: 1,684.21 pts (-3.47pts, -0.21%)
The FBM KLCI (-0.2%) trended lower for the second day yesterday, impacted by the renewed uncertainty over the trade negotiations between U.S. and China. The immediate resistance is located at 1,700.

Crude Palm Oil: RM2,164 (+RM33, +1.55%)
Crude palm oil prices extended its gains, boosted by the stronger-than-expected exports data. The immediate support is located around RM2,050.

WTI Crude Oil: $60.23 (+$1.20, +2.03%)
Crude oil prices closed sharply after U.S. inventory level experienced its biggest weekly decline since July 2018. The immediate resistance is located at US$64.

Gold: $1,312.53 (+$5.97, +0.46%)
Gold prices extended its gains as uncertainty between U.S. and China trade negotiations return to the forefront. The immediate resistance is located around $1,350.

Economic Releases:
UK - United Kingdom's Retail Sales, 5.30PM
UK - United Kingdom's Bank of England Interest Rate Decision, 8.00PM

Technical Trading Stocks - 21 Mar 19 
Stock Name: VS (6963)
Entry: Buy above RM1.02
Target: RM1.10 (7.8%), RM1.17 (14.7%)
Stop: RM0.955 (-6.4%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: KPS (5843)
Entry: Buy above RM1.43
Target: RM1.53 (7.0%), RM1.63 (14.0%)
Stop: RM1.34 (-6.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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