KLSE Traders Update and Ideas

Daily Market Update - 5 Apr 2019 (GADANG, FAJAR)

mplus313
Publish date: Fri, 05 Apr 2019, 08:31 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,384.63 pts (+166.50pts, +0.64%)
U.S. stockmarkets crept higher as the Dow added 0.6% as investors anticipated that U.S. President Donald Trump to announce the date of a trade summit meeting with China's President Xi Jinping, while the S&P 500 (+0.2%) recorded its sixth straight session of advance. The immediate resistance is located at 27,000.

FBM KLCI: 1,645.07 pts (+1.86pts, +0.11%)
The FBM KLCI (+0.1%) trended higher for the third straight session, lifted by gains in selected banking and telco heavyweights yesterday. The immediate resistance is located at 1,650.

Crude Palm Oil: RM2,204 (+RM29, +1.33%)
Crude palm oil prices recorded its fourth straight session of gains on expectations over the decline in inventory level. The immediate resistance is located around RM2,200.

WTI Crude Oil: $62.10 (-$0.36, -0.58%)
Crude oil prices extended its losses, dragged down by the stronger U.S. Dollar against a basket of currencies. The immediate resistance is located at US$64.

Gold: $1,292.21 (+$2.28, +0.18%)
Gold prices rebounded, boosted by optimism over U.S. and China trade progress. The immediate resistance is located around $1,300.

Economic Releases:
EU - Eurozone's Retail Sales, 5.00PM
US - United States' Unemployment Rate, 8.30PM

Technical Trading Stocks - 5 Apr 19 
Stock Name: GADANG (9261)
Entry: Buy above RM0.71
Target: RM0.785 (10.6%), RM0.82 (15.5%)
Stop: RM0.67 (-5.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: FAJAR (7047)
Entry: Buy above RM0.415
Target: RM0.45 (8.4%), RM0.465 (12.0%)
Stop: RM0.395 (-4.8%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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