KLSE Traders Update and Ideas

Daily Market Update - 23 Jul 2019 (EKOVEST, IRIS)

mplus313
Publish date: Tue, 23 Jul 2019, 08:46 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,171.90 pts (+17.70pts, +0.07%)
U.S. stockmarkets edged higher as the Dow gained 0.1%, boosted by technology shares, whilst investors braced for a deluge of corporate earnings. The immediate support is located at 27,000.

FBM KLCI: 1,655.40 pts (-2.79pts, -0.17%)
The FBM KLCI (-0.2%) started off the week on a dour note, in line with the weakness across its regional peers yesterday. The immediate support is located at 1,635.

Crude Palm Oil: RM1,972 (+RM11, +0.56%)
Crude palm oil prices advanced on expectations that India's edible oil imports could jump to record levels in 2019. The immediate resistance is located around RM2,000.

WTI Crude Oil: $55.63 (+$0.33, +0.60%)
Crude oil prices extended its gains on mounting geopolitical tension in Iran. The immediate support is located at US$55.

Gold: $1,424.88 (-$0.49, -0.03%)
Gold prices extended its losses as demand for safe haven assets dwindled. The immediate resistance is located around $1,450.

Economic Releases:
US - United States' Existing Home Sales, 10.00PM

Technical Trading Stocks - 23 Jul 19
Stock Name: EKOVEST (8877)
Buy above RM0.84
Target: RM0.87 (3.6%), RM0.90 (7.1%)
Stop: RM0.815 (-3.0%)
Shariah: Yes
Technical: Flag-formation breakout

Stock Name: IRIS (0100)
Entry: Buy above RM0.16
Target: RM0.18 (12.5%), RM0.195 (21.9%)
Stop: RM0.145 (-9.4%)
Shariah: Yes
Technical: Monitor for breakout

Source: Bloomberg, M+ Online

 

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