KLSE Traders Update and Ideas

Daily Market Update - 10 Sept 2019 (TALIWRK, GTRONIC)

mplus313
Publish date: Tue, 10 Sep 2019, 08:42 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,835.51 pts (+38.05pts, +0.14%)
U.S. stockmarkets finished mixed overnight as the Dow (+0.1%) recorded its fourth straight session of advance, but the S&P 500 fell 0.01% after erasing all its intraday gains. The immediate resistance is located at 27,000.

FBM KLCI: 1,604.47 pts (+4.72pts, +0.30%)
The FBM KLCI (+0.3%) advanced to re-claim the 1,600 psychological level, boosted by gains in Petronas-related heavyweights. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,201 (+RM19, +0.87%)
Crude palm oil prices rebounded on shrinking domestic supply, coupled with the rising soybean oil prices. The immediate resistance is located around RM2,250.

WTI Crude Oil: $57.85 (+$1.33, +2.36%)
Crude oil prices trended higher amid the positive Sino-U.S. trade progress that could potentially boost demand. The immediate resistance is located at US$58.

Gold: $1,499.13 (-$7.69, -0.51%)
Gold prices extended its losses, forming a three black crow formation on expectations that major central bankers may trim their benchmark interest rates to spur economic growth. The immediate support is located around $1,450.

Economic Releases:
CN - China's Inflation Rate, 9.30AM
CN - China's Producer Price Index, 9.30AM

M+ Online Technical Trading Stocks - 10Sep19

Stock Name: TALIWRK (8524)
Entry: Buy above RM0.925
Target: RM0.975 (5.4%), RM0.99 (7.0%)
Stop: RM0.89 (-3.8%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: GTRONIC (7022)
Entry: Buy above RM1.76
Target: RM1.86 (5.7%), RM1.96 (11.4%)
Stop: RM1.67 (-5.1%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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