KLSE Traders Update and Ideas

Daily Market Update - 5 Jul 2019 (TRC, IGBREIT)

mplus313
Publish date: Fri, 05 Jul 2019, 08:22 AM
mplus313
0 3,760
This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,966.00 pts (+179.32pts, +0.67%)
U.S. stockmarkets were closed for the Independence Day public holiday, whilst futures market started off on a positive note on expectations over interest rate cut from the U.S. Federal Reserve. The immediate resistance is located at 27,000.

FBM KLCI: 1,687.48 pts (-2.57pts, -0.15%)
The FBM KLCI (-0.2%) inched lower for the second session, weighed down by the renewed volatility in crude oil price yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM1,950 (-RM6, -0.31%)
Crude palm oil prices extended its losses as gains arising from the stronger CPO export data was overshadowed by the firmer Ringgit against the Greenback. The immediate support is located around RM1,920.

WTI Crude Oil: $57.34 (+$1.09, +1.92%)
Trading in crude oil prices was also closed in conjunction with the U.S. Independence Day public holiday. The immediate resistance is located at US$60.

Gold: $1,416.08 (-$2.70, -0.19%)
Gold prices retreated as investors' attention shifted to riskier assets. The immediate resistance is located around $1,450.

Economic Releases:
US - United States' Unemployment Rate, 8.30PM

Technical Trading Stocks - 5 Jul 19 
Stock Name: TRC (5054)
Entry: Buy above RM0.65
Target: RM0.705 (8.5%), RM0.73 (12.3%)
Stop: RM0.62 (-4.6%)
Shariah: Yes
Technical: Trendline breakout

Stock Name: IGBREIT (5227)
Entry: Buy above RM1.94
Target: RM2.00 (3.1%), RM2.10 (8.2%)
Stop: RM1.90 (-2.1%)
Shariah: No
Technical: Flag-formation breakout

Source: Bloomberg, M+ Online

 

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.

Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment