KLSE Traders Update and Ideas

Daily Market Update - 17 Jun 2019 (OKA, GENM)

mplus313
Publish date: Mon, 17 Jun 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: 26,089.61 pts (-17.16pts, -0.07%)
U.S. stockmarkets staged mild pullback as the Dow fell 0.1% as concern over global economic growth re-surfaced, coupled with the rising geopolitical tension at Middle East. The immediate resistance is located at 27,000.

FBM KLCI: 1,638.63 pts (-5.11pts, -0.31%)
The FBM KLCI (-0.3%) retreated for the fourth straight session alongside with the weakness across its regional peers on last Friday. The immediate resistance is located at 1,660.

Crude Palm Oil: RM2,018 (+RM3, +0.15%)
Crude palm oil prices managed to eke out mild gains, taking cue from the higher oil-related commodity prices. The immediate support is located around RM1,950.

WTI Crude Oil: $52.51 (+$0.23, +0.44%)
Crude oil prices extended its gains on expectation over Saudi Arabia and OPEC members will extend their production cut. The immediate resistance is located at US$55.

Gold: $1,341.70 (-$0.61, -0.05%)
Gold prices retreated after the Greenback appreciated against a basket of currencies. The immediate resistance is located around $1,350.

Technical Trading Stocks - 17 Jun 19 
Stock Name: OKA (7140)
Entry: Buy above RM0.65
Target: RM0.70 (7.7%), RM0.74 (13.8%)
Stop: RM0.62 (-4.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: GENM (4715)
Entry: Buy above RM3.23
Target: RM3.35 (3.7%), RM3.46 (7.1%)
Stop: RM3.13 (-3.1%)
Shariah: No
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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