KLSE Traders Update and Ideas

Daily Market Update - 14 Jun 2019 (ADVCON, HSSEB)

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Publish date: Fri, 14 Jun 2019, 08:20 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,106.77 pts (+101.94pts, +0.39%)
U.S. stockmarkets rebounded as the Dow (+0.4%) recovered all its previous session losses, led by gains in Walt Disney coupled with the higher crude oil prices. The immediate resistance is located at 27,000.

FBM KLCI: 1,643.74 pts (-7.00pts, -0.42%)
The FBM KLCI (-0.4%) recorded its third day losing streak, taking cue from the weakness on Wall Street overnight amid the lingering Sino-U.S. trade standoff. The immediate resistance is located at 1,670.

Crude Palm Oil: RM2,008 (+RM40, +2.03%)
Crude palm oil prices rebounded to claw its way above the RM2,000 psychological level in tandem with the recovery across other oil-commodities. The immediate support is located around RM1,950.

WTI Crude Oil: $52.28 (+$1.14, +2.22%)
Crude oil prices surged after two oil tankers were attacked in the Gulf of Oman. The immediate support is located at US$50.

Gold: $1,342.31 (+$8.73, +0.66%)
Gold prices extended its gains amid the renewed geopolitical tension in the Middle East. The immediate resistance is located around $1,350.

Economic Releases:
CN - China's Industrial Production, 10.00AM
CN - China's Retail Sales, 10.00AM
MY - Malaysia's Unemployment Rate, 12.00PM
JP - Japan's Industrial Production, 12.30PM
US - United States' Retail Sales, 8.30PM
US - United States' Industrial Production, 9.15PM
US - United States' Manufacturing Production, 9.15PM

Technical Trading Stocks - 14 Jun 19 
Stock Name: ADVCON (5281)
Entry: Buy above RM0.395
Target: RM0.425 (7.6%), RM0.44 (11.4%)
Stop: RM0.365 (-7.6%)
Shariah: Yes
Technical: Bullish engulfing candle

Stock Name: HSSEB (0185)
Entry: Buy above RM1.10
Target: RM1.19 (8.2%), RM1.23 (11.8%)
Stop: RM1.05 (-4.5%)
Shariah: Yes
Technical: Trendline breakout

Source: Bloomberg, M+ Online

 

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