KLSE Traders Update and Ideas

Daily Market Update - 28 May 2019 (KKB, FIHB)

mplus313
Publish date: Tue, 28 May 2019, 08:32 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,585.69 pts (+95.22pts, +0.37%)
U.S. stockmarkets were closed for the Memorial Day public holiday on Monday. The immediate resistance is located at 26,000.

FBM KLCI: 1,601.35 pts (+3.03pts, +0.19%)
The FBM KLCI (+0.2%) started off the week on a firmer footing as the key index snapped a three-day losing streak, in line with the mostly positive performance across its regional peers yesterday. The immediate support is located at 1,580.

Crude Palm Oil: RM2,025 (+RM12, +0.60%)
Crude palm oil prices advanced for the first time in four days, taking cue from the higher soybean oil prices. The immediate support is located around RM2,000.

WTI Crude Oil: $58.63 (+$0.72, +1.25%)
Crude oil prices extended its gains on the possibility of supply disruption at Iran and Libya due to political unrest. The immediate resistance is located at US$60.

Gold: $1,288.88 (+$3.95, +0.31%)
Gold prices trended higher for the third straight session as investors perceived that the Sino-U.S. trade dispute may prolong. The immediate resistance is located around $1,300.

Economic Releases:
EU - Eurozone's Business Confidence, 5.00PM
EU - Eurozone's Services Sentiment, 5.00PM
EU - Eurozone's Consumer Confidence, 5.00PM
EU - Eurozone's Economic Sentiment, 5.00PM
EU - Eurozone's Industrial Sentiment, 5.00PM

Technical Trading Stocks - 28 May 19 
Stock Name: KKB (9466)
Entry: Buy above RM1.31
Target: RM1.39 (6.1%), RM1.46 (11.5%)
Stop: RM1.26 (-3.8%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: FIHB (8605)
Entry: Buy above RM0.42
Target: RM0.465 (10.7%), RM0.50 (19.0%)
Stop: RM0.39 (-7.1%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Source: Bloomberg, M+ Online

 

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