KLSE Traders Update and Ideas

Daily Market Update - 10 May 2019 (FRONTKN, 3A)

mplus313
Publish date: Fri, 10 May 2019, 08:30 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,828.36 pts (-138.97pts, -0.54%)
U.S. stockmarkets trended lower as the Dow fell 0.5% overnight on mounting concern over the Sino-U.S. trade dispute. The immediate support is located at 25,200.

FBM KLCI: 1,618.53 pts (-15.02pts, -0.92%)
The FBM KLCI (-0.9%) extended its losses in tandem with the negative performance across its regional peers yesterday. The immediate support is located at 1,610.

Crude Palm Oil: RM2,005 (-RM32, -1.57%)
Crude palm oil prices extended its losses on concern over rising output will continue to outweigh the sluggish demand. The immediate support is located around RM1,940.

WTI Crude Oil: $61.70 (-$0.42, -0.68%)
Crude oil prices retreated as concern over U.S.-China trade negotiation offsets the global supply disruptions. The immediate resistance is located at US$67.

Gold: $1,284.08 (+$3.20, +0.25%)
Gold prices rebounded amid the looming imposition of additional tariffs in Chinese goods takes place. The immediate resistance is located around $1,300.

Economic Releases:
MY - Malaysia's Unemployment Rate, 12.00PM
MY - Malaysia's Industrial Production, 12.00PM
MY - Malaysia's Retail Sales, 12.00PM
UK - United Kingdom's Industrial Production, 4.30PM
UK - United Kingdom's Manufacturing Production, 4.30PM

Technical Trading Stocks - 10 May 19 
Stock Name: FRONTKN (0128)
Entry: Buy above RM1.33
Target: RM1.43 (7.5%), RM1.50 (12.8%)
Stop: RM1.27 (-4.5%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: 3A (0012)
Entry: Buy above RM0.91
Target: RM0.985 (8.2%), RM1.02 (12.1%)
Stop: RM0.885 (-2.7%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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