KLSE Traders Update and Ideas

Daily Market Update - 26 Apr 2019 (CHINWEL, JHM)

mplus313
Publish date: Fri, 26 Apr 2019, 08:18 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,462.08 pts (-134.97pts, -0.51%)
U.S. stockmarkets trended lower as the Dow extended its losses by 0.5% overnight, dragged down by the disappointing corporate earnings from 3M Co. (-13.0%) that offset the rally in technology stocks. The immediate resistance is located at 27,000.

FBM KLCI: 1,635.68 pts (-2.33pts, -0.14%)
The FBM KLCI (-0.1%) retreated in line with the mostly negative performance across its regional peers yesterday. The immediate resistance is located at 1,645.

Crude Palm Oil: RM2,157 (-RM13, -0.60%)
Crude palm oil prices edged lower to three weeks low, taking cue from the weakness on soybean oil prices. The immediate support is located around RM2,100.

WTI Crude Oil: $65.21 (-$0.68, -1.03%)
Crude oil prices extended its losses on concern over rising global inventory level. The immediate resistance is located at US$67.

Gold: $1,277.17 (+$1.41, +0.11%)
Gold prices extended its gains on renewed volatility in global equities. The immediate support is located around $1,250.

Technical Trading Stocks - 26 Apr 19 
Stock Name: CHINWEL (5007)
Entry: Buy above RM1.84
Target: RM1.94 (5.4%), RM2.00 (8.7%)
Stop: RM1.77 (-3.8%)
Shariah: Yes
Technical: Trendline breakout

Stock Name: JHM (0127)
Entry: Buy above RM1.37
Target: RM1.45 (5.8%), RM1.53 (11.7%)
Stop: RM1.30 (-5.1%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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