KLSE Traders Update and Ideas

Daily Market Update - 20 Sept 2019 (HTPADU, HOMERIZ)

mplus313
Publish date: Fri, 20 Sep 2019, 08:53 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,094.79 pts (-52.29pts, -0.19%)
Wall Street endured a volatile trading session as the Dow (-0.2%) erased all its intraday gains, dragged down by the weakness in Walt Disney (-2.6%). The immediate resistance is located at 27,400.

FBM KLCI: 1,596.28 pts (-3.21pts, -0.20%)
The FBM KLCI (-0.2%) extended its losses after lingering in the negative territory for the entire trading session yesterday. The immediate support is located at 1,590.

Crude Palm Oil: RM2,245 (-RM15, -0.66%)
Crude palm oil prices erased all its intraday gains to extend its losses, taking cue from the weakness across other oil-related commodity prices. The immediate support is located around RM2,200.

WTI Crude Oil: $58.13 (+$0.02, +0.03%)
Crude oil prices finished marginally higher as Saudi Arabia's production restoration will be slower-than-expected. The immediate resistance is located at US$64.

Gold: $1,499.03 (+$5.03, +0.34%)
Gold prices rebounded after the U.S. Dollar retreated against a basket of currencies. The immediate support is located around $1,450.

Economic Releases:
JP - Japan's Inflation Rate, 7.30AM
 

M+ Online Technical Trading Stocks - 20Sep19

Stock Name: HTPADU (5028)
Entry: Buy above RM1.21
Target: RM1.33 (9.9%), RM1.44 (19.0%)
Stop: RM1.13 (-6.6%)
Shariah: Yes
Technical: Monitor for trendline breakout

Stock Name: HOMERIZ (5160)
Entry: Buy above RM0.645
Target: RM0.68 (5.4%), RM0.71 (10.1%)
Stop: RM0.615 (-4.7%)
Shariah: Yes
Technical: Consolidation breakout

Source: Bloomberg, M+ Online

 

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