KLSE Traders Update and Ideas

Daily Market Update - 13 May 2019 (FGV, VIZIONE)

mplus313
Publish date: Mon, 13 May 2019, 08:45 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,942.37 pts (+114.01pts, +0.44%)
Late gains shored U.S. equities into the positive territory as the Dow added 0.4% after U.S. President Donald Trump imposed additional tariffs on Chinese goods. The immediate support is located at 25,200.

FBM KLCI: 1,610.27 pts (-8.26pts, -0.51%)
The FBM KLCI (-0.5%) retreated for the third straight session as sentiment was dampened by U.S. move to impose additional tariffs on Chinese goods. The immediate support is located at 1,610.

Crude Palm Oil: RM1,983 (-RM22, -1.10%)
Crude palm oil prices trended lower for the third straight session, despite inventory level fell to its lowest level in six months. The immediate support is located around RM1,940.

WTI Crude Oil: $61.66 (-$0.03, -0.05%)
Crude oil prices ended on a flattish note after erasing all its intraday gains to remain in the consolidation band. The immediate resistance is located at US$67.

Gold: $1,286.05 (+$1.98, +0.15%)
Gold prices extended its gains amid the escalation of trade dispute between U.S. and China. The immediate resistance is located around $1,300.

Technical Trading Stocks - 13 May 19 
Stock Name: FGV (5222)
Entry: Buy above RM1.25
Target: RM1.38 (10.4%), RM1.47 (17.6%)
Stop: RM1.15 (-8.0%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: VIZIONE (7070)
Entry: Buy above RM1.05
Target: RM1.11 (5.7%), RM1.17 (11.4%)
Stop: RM1.01 (-3.8%)
Shariah: Yes
Technical: Bullish harami candle

Source: Bloomberg, M+ Online

 

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