KLSE Traders Update and Ideas

Daily Market Update - 26 Jun 2019 (EWEIN, HSSEB)

mplus313
Publish date: Wed, 26 Jun 2019, 10:06 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,548.22 pts (-179.32pts, -0.67%)
U.S. stockmarkets retreated as the Dow fell 0.7% overnight after U.S. Federal Reserve Chairman Jerome Powell hinted that the potential rate cut in July 2019 might be delayed. The immediate resistance is located at 27,000.

FBM KLCI: 1,676.61 pts (+0.48pts, +0.03%)
The FBM KLCI (+0.03%) chalked in marginal gains after enduring a choppy trading session as the key index outperformed the mostly negative regional peers yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM1,981 (-RM17, -0.85%)
Crude palm oil prices trended lower for the fourth straight session, weighed down by the sluggish exports data. The immediate support is located around RM1,950.

WTI Crude Oil: $57.83 (-$0.07, -0.12%)
Crude oil prices snapped a three-day winning streak after erasing all its intraday gains ahead of the U.S. inventory data. The immediate resistance is located at US$60.

Gold: $1,423.44 (+$3.72, +0.26%)
Gold prices advanced for the sixth consecutive session, boosted by the upbeat demand in safe haven assets. The immediate resistance is located around $1,400.

Economic Releases:
MY - Malaysia's Inflation Rate, 12.00PM

Technical Trading Stocks - 26 Jun 19 
Stock Name: EWEIN (7249)
Entry: Buy above RM0.695
Target: RM0.74 (6.5%), RM0.775 (11.5%)
Stop: RM0.67 (-3.6%)
Shariah: Yes
Technical: Breakout-pullback-continuation

Stock Name: HSSEB (0185)
Entry: Buy above RM1.18
Target: RM1.29 (9.3%), RM1.38 (16.9%)
Stop: RM1.09 (-7.6%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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