KLSE Traders Update and Ideas

Daily Market Update - 1 Jul 2019 (SKPRES, IOIPG)

mplus313
Publish date: Mon, 01 Jul 2019, 08:27 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,599.96 pts (+73.38pts, +0.28%)
U.S. stockmarkets edged higher as the Dow added 0.3%, lifted by gains in banking shares ahead of the G-20 meeting. The immediate resistance is located at 27,000.

FBM KLCI: 1,672.13 pts (-0.57pts, -0.03%)
The FBM KLCI (-0.03%) edged marginally lower to register its fifth consecutive losing streak alongside with the mostly negative performance across its regional peers on last Friday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM1,951 (-RM12, -0.61%)
Crude palm oil prices retreated for the seventh straight session and consequently marking its seventh consecutive quarterly decline - the longest quarterly losing streak since the CPO futures index was established in 1995. The immediate support is located around RM1,920.

WTI Crude Oil: $58.47 (-$0.96, -1.64%)
Crude oil prices retreated, dragged down by the rising U.S. oil rigs and production. The immediate resistance is located at US$63.

Gold: $1,409.55 (-$0.23, -0.02%)
Gold prices closed on a flattish note as investors monitor for developments on the G20 meeting. The immediate support is located around $1,350.

Economic Releases:
JP - Japan's Nikkei Manufacturing PMI, 8.30AM
MY - Malaysia's Nikkei Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
EU - Eurozone's Markit Manufacturing PMI, 8.30PM
EU - Eurozone's Unemployment Rate, 5.00PM
US - United States' ISM Manufacturing PMI, 10.00PM
US - United States' Markit Manufacturing PMI, 10.00PM

Technical Trading Stocks - 1 Jul 19 
Stock Name: SKPRES (7155)
Entry: Buy above RM1.35
Target: RM1.44 (6.7%), RM1.57 (16.3%)
Stop: RM1.26 (-6.7%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: IOIPG (5249)
Entry: Buy above RM1.35
Target: RM1.47 (8.9%), RM1.55 (14.8%)
Stop: RM1.28 (-5.2%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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