KLSE Traders Update and Ideas

Daily Market Update - 1 Nov 2019 (HUMEIND, INTA)

mplus313
Publish date: Fri, 01 Nov 2019, 08:49 AM
mplus313
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This blog provides market updates and trading ideas that I gather from around the web.

Dow Jones: 27,046.23 pts (-140.46pts, -0.52%)
U.S. stockmarkets retreated overnight as the Dow slipped 0.5% amid the fresh uncertainty over "Phase 1" of Sino-U.S. trade deal, coupled with the expectations over sluggish economic data. The immediate resistance is located at 27,300.

FBM KLCI: 1,597.98 pts (+17.98pts, +1.14%)
The FBM KLCI (+1.1%) recorded its' third straight winning streak as the key index closed marginally below the 1,600 psychological level, boosted by gains in banking heavyweights yesterday. The immediate resistance is located at 1,620.

Crude Palm Oil: RM2,485 (-RM11, -0.44%)
Crude palm oil prices snapped a six-day winning streak as gains were capped by the appreciation of Ringgit against the Greenback. The immediate resistance is located around RM2,550.

WTI Crude Oil: $54.18 (-$0.88, -1.60%)
Crude oil prices trended lower for the third straight session on renewed concern over Sino-U.S. trade deal, coupled with the weak factory data from China that dented demand. The immediate resistance is located at US$58.

Gold: $1,512.99 (+$17.33, +1.16%)
Gold prices extended its' gains on doubts over the U.S.-China trade deal, coupled with concern over the slowdown of economic growth. The immediate resistance is located around $1,550.

Economic Releases:
JP - Japan's Unemployment Rate, 7.30AM
MY - Malaysia's Markit Manufacturing PMI, 8.30AM
CN - China's Caixin Manufacturing PMI, 9.45AM
US - United States' Unemployment Rate, 8.30PM
US - United States' Markit Manufacturing PMI, 9.45PM
US - United States' ISM Manufacturing PMI, 10.00PM

M+ Online Technical Trading Stocks - 1 Nov 19

Stock Name: HUMEIND (5000)
Entry: Buy above RM1.06
Target: RM1.17 (10.4%), RM1.23 (16.0%)
Stop: RM1.02 (-3.8%)
Shariah: No
Technical: Trendline breakout

Stock Name: INTA (0192)
Entry: Buy above RM0.27
Target: RM0.29 (7.4%), RM0.31 (14.8%)
Stop: RM0.255 (-5.6%)
Shariah: Yes
Technical: Bullish engulfing candle

Source: Bloomberg, M+ Online

 

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