KLSE Traders Update and Ideas

Daily Market Update - 24 Sept 2019 (RANHILL, BJTOTO)

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Publish date: Tue, 24 Sep 2019, 10:16 AM
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 26,949.99 pts (+14.92pts, +0.06%)
U.S. stockmarkets ended on a mixed note with the Dow rising 0.1%, but the S&P 500 fell 0.01% as investors turned cautious ahead of the U.S.-China trade negotiations. The immediate resistance is located at 27,400.

FBM KLCI: 1,592.93 pts (-4.48pts, -0.28%)
The FBM KLCI (-0.3%) started off the week on a dour note alongside with the weakness across its regional peers yesterday. The immediate support is located at 1,590.

Crude Palm Oil: RM2,189 (-RM36, -1.62%)
Crude palm oil prices recorded its fourth straight session of decline, mirroring the weakness in soybean oil prices. The immediate support is located around RM2,150.

WTI Crude Oil: $58.64 (+$0.55, +0.94%)
Crude oil prices edged higher on the lingering supply concern, despite Saudi Arabia has restored about 75% of its production. The immediate resistance is located at US$60.

Gold: $1,522.24 (+$5.34, +0.35%)
Gold prices march higher for the third straight session, boosted by the sluggish economic data in Germany and France. The immediate resistance is located around $1,550.

M+ Online Technical Trading Stocks - 24Sep19

Stock Name: RANHILL (5272)
Entry: Buy above RM1.29
Target: RM1.38 (7.0%), RM1.42 (10.1%)
Stop: RM1.21 (-6.2%)
Shariah: Yes
Technical: Monitor for breakout

Stock Name: BJTOTO (1562)
Entry: Buy above RM2.70
Target: RM2.78 (3.0%), RM2.82 (4.4%)
Stop: RM2.64 (-2.2%)
Shariah: No
Technical: Monitor for trendline breakout

Source: Bloomberg, M+ Online

 

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