KLSE Traders Update and Ideas

Daily Market Update - 1 Apr 2019 (SCOMNET, FGV)

mplus313
Publish date: Mon, 01 Apr 2019, 08:43 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,928.68 pts (+211.22pts, +0.82%)
U.S. stockmarkets extended their gains, driven by optimism over the progress of trade negotiation between U.S. and China as the Dow rose 0.8% to climb 11.2% Q.o.Q in 1Q2019 - the biggest quarterly gain since 2009. The immediate resistance is located at 26,000.

FBM KLCI: 1,643.63 pts (+2.30pts, +0.14%)
The FBM KLCI (+0.1%) advanced on the final trading day of the quarter to trim its quarterly losses as the key index fell 2.8 Q.o.Q in 1Q2019. The immediate resistance is located at 1,660.

Crude Palm Oil: RM2,106 (-RM14, -0.66%)
Crude palm oil prices extended its losses, mirroring the weakness in soybean oil prices, coupled with the stronger Ringgit against the Greenback. The immediate resistance is located around RM2,200.

WTI Crude Oil: $60.14 (+$0.84, +1.42%)
Crude oil prices rebounded as the number of U.S. active drilling rigs declined last week. The immediate resistance is located at US$64.

Gold: $1,292.38 (+$1.96, +0.15%)
Gold prices snapped a three-day losing streak as the Brexit saga took another hit after British Prime Minister Theresa May suffered another parliamentary defeat. The immediate resistance is located around $1,350.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
US - United States' Retail Sales, 8.30PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

Technical Trading Stocks - 1 Apr 19 
Stock Name: SCOMNET (0001)
Entry: Buy above RM0.80
Target: RM0.86 (7.5%), RM0.92 (15.0%)
Stop: RM0.745 (-6.9%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: FGV (5222)
Entry: Buy above RM1.20
Target: RM1.31 (9.2%), RM1.38 (15.0%)
Stop: RM1.11 (-7.5%)
Shariah: Yes
Technical: Monitor for trendline breakout

Source: Bloomberg, M+ Online

 

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moneykj

Go for Ikhmas

2019-04-01 09:58

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