KLSE Traders Update and Ideas

Daily Market Update - 3 Apr 2019 (UZMA, KPS)

mplus313
Publish date: Wed, 03 Apr 2019, 08:33 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,179.13 pts (-79.29pts, -0.30%)
U.S. stockmarkets staged a pullback as the Dow declined 0.3%, weighed down by Walgreens Boots Alliance Inc. (-12.8%) after the drugstore chain operator reported sluggish 2QFY19 corporate earnings. The immediate resistance is located at 27,000.

FBM KLCI: 1,632.83 pts (+4.17pts, +0.26%)
The FBM KLCI (+0.3%) was lifted higher yesterday, spurred by the positive developments on Wall Street overnight, coupled with the higher crude oil prices. The immediate resistance is located at 1,650.

Crude Palm Oil: RM2,153 (+RM40, +1.89%)
Crude palm oil prices extended its gains in tandem with other oil-related commodities, coupled with the lower Indonesia inventory level. The immediate resistance is located around RM2,200.

WTI Crude Oil: $62.58 (+$0.99, +1.61%)
Crude oil prices advanced for the third straight session, boosted by the continue output curbs by Saudi Arabia, coupled with the plunge in Venezuelan production due to its economic and political crisis. The immediate resistance is located at US$64.

Gold: $1,292.46 (+$4.74, +0.37%)
Gold prices trended higher as demand for safe haven assets rose. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Nikkei Services PMI, 8.30AM
CN - China's Caixin Services PMI, 9.45AM
CN - China's Caixin Composite PMI, 9.45AM
EU - Eurozone's Markit Services PMI, 4.00PM
EU - Eurozone's Markit Composite PMI, 4.00PM
US - United States' Markit Services PMI, 9.45PM
US - United States' Markit Composite PMI, 9.45PM
US - United States' ISM Non-Manufacturing PMI, 10.00PM

Technical Trading Stocks - 3 Apr 19 
Stock Name: UZMA (7250)
Entry: Buy above RM0.995
Target: RM1.07 (7.5%), RM1.17 (17.6%)
Stop: RM0.92 (-7.5%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: KPS (5843)
Entry: Buy above RM1.43
Target: RM1.54 (7.7%), RM1.63 (14.0%)
Stop: RM1.36 (-4.9%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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moneykj

Parkson

2019-04-03 09:14

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