KLSE Traders Update and Ideas

Daily Market Update - 29 May 2019 (JAKS, VIZIONE)

mplus313
Publish date: Wed, 29 May 2019, 08:24 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 25,347.77 pts (-237.92pts, -0.93%)
U.S. stockmarkets resume trading on a downbeat manner as the Dow fell 0.9%, weighed down by the escalating Sino-U.S. trade tension. The immediate support is located at 25,000.

FBM KLCI: 1,614.57 pts (+13.22pts, +0.83%)
Late gains in selected index heavyweights nudged the FBM KLCI (+0.8%) to close at its intraday high of 1,614.57 level yesterday. The immediate support is located at 1,600.

Crude Palm Oil: RM2,066 (+RM41, +2.02%)
Crude palm oil prices extended its gains after Indonesia maintain export tax for CPO ar zero level for June 2019. The immediate resistance is located around RM2,100.

WTI Crude Oil: $59.14 (+$0.51, +0.87%)
Crude oil prices trended higher for the third straight session on expectations over the lower U.S. supply level. The immediate resistance is located at US$60.

Gold: $1,279.33 (-$6.03, -0.47%)
Gold prices halted a three-day winning streak after the U.S. Dollar advanced against a basket of currencies. The immediate resistance is located around $1,300.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM

Technical Trading Stocks - 29 May 19 
Stock Name: JAKS (4723)
Entry: Buy above RM0.75
Target: RM0.84 (12.0%), RM0.90 (20.0%)
Stop: RM0.69 (-8.0%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: VIZIONE (7070)
Entry: Buy above RM0.98
Target: RM1.05 (7.1%), RM1.09 (11.2%)
Stop: RM0.915 (-6.6%)
Shariah: Yes
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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