KLSE Traders Update and Ideas

Daily Market Update - 4 Jun 2019 (YTLREOT, IWCITY)

mplus313
Publish date: Tue, 04 Jun 2019, 09:31 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 24,819.78 pts (+4.74pts, +0.02%)
U.S. stockmarkets finished mixed as the Dow (+0.02%) eke out marginal gains, but the S&P 500 fell 0.3% as investors continue to monitor for further developments on global trade progress. The immediate support is located at 24,000.

FBM KLCI: 1,655.31 pts (+4.55pts, +0.28%)
The FBM KLCI (+0.3%) advanced the sixth straight session, boosted by the eleventh hour buying interest in selected index heavyweights yesterday. The immediate resistance is located at 1,670.

Crude Palm Oil: RM2,028 (-RM41, -1.98%)
Crude palm oil prices retreated for the fourth consecutive session in line with the weakness across most oil-related commodities. The immediate support is located around RM2,000.

WTI Crude Oil: $53.25 (-$0.25, -0.47%)
Crude oil prices extended its losses after Chinese refiners and commodity traders shunned U.S. crude oil, refusing to commit to long-term contracts. The immediate support is located at US$50.

Gold: $1,325.31 (+$19.73, +1.51%)
Gold prices extended its rally for the fourth straight session to close at nine-week high as demand for safe haven assets surged. The immediate resistance is located around $1,350.

Economic Releases:
EU - Eurozone's Unemployment Rate, 5.00PM

Technical Trading Stocks - 4 Jun 19 
Stock Name: YTLREOT (5109)
Entry: Buy above RM1.35
Target: RM1.45 (7.4%), RM1.50 (11.1%)
Stop: RM1.31 (-3.0%)
Shariah: No
Technical: Consolidation breakout

Stock Name: IWCITY (1589)
Entry: Buy above RM0.825
Target: RM0.885 (7.3%), RM0.925 (12.1%)
Stop: RM0.78 (-5.5%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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