KLSE Traders Update and Ideas

Daily Market Update - 30 Apr 2019 (OFI, OCNCASH)

mplus313
Publish date: Tue, 30 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: 26,554.39 pts (+11.06pts, +0.04%)
U.S. stockmarkets chalked  in miniscule gains as the Dow added 0.04%, boosted by the solid in consumer spending data that added 0.9% Y.o.Y in March 2019, whilst the S&P 500 (+0.1%) closed at a fresh record high level overnight. The immediate resistance is located at 27,000.

FBM KLCI: 1,637.40 pts (-0.98pts, -0.06%)
Despite recovering most of its intraday losses, the FBM KLCI (-0.1%) remained in the red on Monday, impacted by weakness in selected oil & gas and telco heavyweights. The immediate resistance is located at 1,645.

Crude Palm Oil: RM2,108 (-RM10, -0.47%)
Crude palm oil prices edged lower for the third straight session, as concern over rising stockpile level remained unabated. The immediate support is located around RM2,100.

WTI Crude Oil: $63.50 (+$0.20, +0.32%)
Crude oil prices recovered some of its previous session losses on mild bargain hunting activities. The immediate resistance is located at US$67.

Gold: $1,279.90 (-$6.26, -0.49%)
Gold prices halted a three-day winning streak as investors shift their focus onto riskier assets. The immediate support is located around $1,250.

Economic Releases:
CN - China's NBS Manufacturing PMI, 9.00AM
CN - China's Non-Manufacturing PMI, 9.00AM
MY - Malaysia's Producer Price Index, 12.00PM
EU - Eurozone's Unemployment Rate, 5.00PM

Technical Trading Stocks - 30 Apr 19 
Stock Name: OFI (7107)
Entry: Buy above RM0.84
Target: RM0.925 (10.1%), RM0.96 (14.3%)
Stop: RM0.795 (-5.4%)
Shariah: Yes
Technical: Resistance breakout

Stock Name: OCNCASH (0049)
Entry: Buy above RM0.46
Target: RM0.505 (9.8%), RM0.53 (15.2%)
Stop: RM0.425 (-7.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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