KLSE Traders Update and Ideas

Daily Market Update - 9 Jul 2019 (JOHOTIN, DUFU)

mplus313
Publish date: Tue, 09 Jul 2019, 08:19 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,806.14 pts (-115.98pts, -0.43%)
Wall Street continue to trend lower as the Dow fell 0.4% on fading prospect over easing monetary policy, coupled with the lower commodity prices. The immediate resistance is located at 27,000.

FBM KLCI: 1,677.64 pts (-4.89pts, -0.29%)
The FBM KLCI (-0.3%) started off the week on a feeble manner after lingering in the negative territory for the entire trading session yesterday. The immediate resistance is located at 1,700.

Crude Palm Oil: RM1,945 (-RM15, -0.77%)
Crude palm oil prices retreated, dragged down by the on-going concern over sluggish demand and rising production. The immediate support is located around RM1,920.

WTI Crude Oil: $57.66 (+$0.15, +0.26%)
Crude oil prices registered its third straight session of gains, lifted by potential disruption of oil flow to the Middle East, but gains were capped by the concern surrounding the sluggish energy demand. The immediate resistance is located at US$60.

Gold: $1,395.53 (-$3.92, -0.28%)
Gold prices extended its losses on the strong U.S. jobs data that could potentially lead to less dovish stance on future interest rate direction from the U.S. Federal Reserve. The immediate resistance is located around $1,450.

Economic Releases:
MY - Malaysia's Bank Negara's Interest Rate Decision, 3.00PM

Technical Trading Stocks - 9 Jul 19 
Stock Name: JOHOTIN (7167)
Entry: Buy above RM1.39
Target: RM1.47 (5.8%), RM1.52 (9.4%)
Stop: RM1.34 (-3.6%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: DUFU (7233)
Entry: Buy above RM1.64
Target: RM1.75 (6.7%), RM1.84 (12.2%)
Stop: RM1.57 (-4.3%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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