KLSE Traders Update and Ideas

Daily Market Update - 28 Mar 2019 (HUMEIND, KGB)

mplus313
Publish date: Thu, 28 Mar 2019, 08:32 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,625.59 pts (-32.14pts, -0.13%)
U.S. stockmarkets retreated as the Dow fell 0.1% overnight, dragged down by rising concern over the slowdown in global economic growth. The immediate resistance is located at 26,000.

FBM KLCI: 1,642.73 pts (-7.21pts, -0.44%)
The FBM KLCI (-0.4%) reversed all its previous session gains as selling activities in selected index heavyweights took precedence yesterday. The immediate resistance is located at 1,660.

Crude Palm Oil: RM2,136 (+RM4, +0.19%)
Crude palm oil prices halted a three-day losing streak after Indonesia kept its export tax for crude palm oil unchanged at 0% for April 2019. The immediate resistance is located around RM2,200.

WTI Crude Oil: $59.41 (-$0.53, -0.88%)
Crude oil prices pullback after the Energy Information Administration reported that U.S. crude supplies unexpectedly rose last week - the first increase in three weeks. The immediate resistance is located at US$64.

Gold: $1,309.55 (-$6.16, -0.47%)
Gold prices extended its losses, dragged down by the stronger Greenback against a basket of currencies. The immediate resistance is located around $1,350.

Economic Releases:
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Business Confidence, 6.00PM
EU - Eurozone's Services Sentiment, 6.00PM
EU - Eurozone's Consumer Confidence, 6.00PM
EU - Eurozone's Economic Sentiment, 6.00PM
EU - Eurozone's Industrial Sentiment, 6.00PM
US - United States' 4Q2018 GDP Growth Rate, 8.30PM

Technical Trading Stocks - 28 Mar 19 
Stock Name: HUMEIND (5000)
Entry: Buy above RM0.745
Target: RM0.82 (10.1%), RM0.85 (14.1%)
Stop: RM0.685 (-8.1%)
Shariah: No
Technical: Breakout-pullback-continuation

Stock Name: KGB (0151)
Entry: Buy above RM1.27
Target: RM1.34 (5.5%), RM1.40 (10.2%)
Stop: RM1.21 (-4.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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moneykj

Orion

2019-03-28 08:45

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