KLSE Traders Update and Ideas

Daily Market Update - 25 Apr 2019 (MFLOUR, CCK)

mplus313
Publish date: Thu, 25 Apr 2019, 08:34 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,597.05 pts (-59.34pts, -0.22%)
U.S. stockmarkets retreated as the Dow fell 0.2% overnight on the back of a mixed bag of corporate earnings. The immediate resistance is located at 27,000.

FBM KLCI: 1,638.01 pts (+10.57pts, +0.65%)
The FBM KLCI (+0.7%) extended its gains yesterday, spurred by World Bank's move to maintain Malaysia's GDP growth rate at +4.7% Y.o.Y in 2019. The immediate resistance is located at 1,645.

Crude Palm Oil: RM2,170 (RM0, 0.00%)
Crude palm oil prices closed unchanged after recovering all its intraday losses as optimism driven from the demand from China were offset by the weak soybean oil prices. The immediate support is located around RM2,100.

WTI Crude Oil: $65.89 (-$0.41, -0.62%)
Crude oil prices retreated, dragged down by the larger-than-expected increase in U.S. inventory level. The immediate resistance is located at US$67.

Gold: $1,275.76 (+$3.34, +0.26%)
Gold prices rebounded from its year-to-date low, boosted by bargain hunting activities, coupled with the pullback in Wall Street overnight. The immediate support is located around $1,250.

Economic Releases:
JP - Japan's Bank of Japan Interest Rate Decision, 11.00AM

Technical Trading Stocks - 25 Apr 19 
Stock Name: MFLOUR (3662)
Entry: Buy above RM0.765
Target: RM0.855 (11.8%), RM0.90 (17.6%)
Stop: RM0.715 (-6.5%)
Shariah: Yes
Technical: Trendline breakout

Stock Name: CCK (7035)
Entry: Buy above RM0.595
Target: RM0.655 (10.1%), RM0.69 (16.0%)
Stop: RM0.56 (-5.9%)
Shariah: Yes
Technical: Resistance breakout

Source: Bloomberg, M+ Online

 

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