M+ Online Morning Buzz - 16Aug19

Dow Jones: 25,579.39 pts (+99.97pts, +0.39%)
U.S. stockmarkets rebounded from the previous session selloff as the Dow gained 0.4%, lifted by the stronger-than-expected retail sales data that rose 0.7% Y.o.Y in July 2019. The immediate support is located at 25,000.

FBM KLCI: 1,600.29 pts (-0.02pts, -0.00%)
The FBM KLCI ended on a flattish note after recovering almost all its intraday losses, boosted by the eleventh hour bargain hunting activities in selected index heavyweights yesterday. The immediate resistance is located at 1,610.

Crude Palm Oil: RM2,200 (-RM40, -1.79%)
Crude palm oil prices snapped a seven-day winning streak on expectations over weaker export in view of the prolonged global trade war. The immediate support is located around RM2,100. $CPO

WTI Crude Oil: $54.47 (-$0.76, -1.39%)
Crude oil prices extended its losses after China threaten to impose counter-measures in retaliation for the latest U.S. tariffs on US$300.0 bln worth of Chinese goods. The immediate support is located at US$50. $OIL

Gold: $1,523.29 (+$6.93, +0.46%)
Gold prices extended its gains as the demand for safe haven assets remain strong. The immediate resistance is located around $1,550. $XAU

Economic Releases:
MY - Malaysia's 2Q2018 GDP Growth Rate, 12.00PM
MY - Malaysia's Inflation Rate, 12.00PM
UK - United Kingdom's Retail Sales, 4.30PM

Technical Trading Stocks - 16Aug19
Stock Name: BAUTO (5248)
Buy above RM2.46
Target: RM2.57 (4.5%), RM2.64 (7.3%)
Stop: RM2.39 (-2.8%)
Shariah: Yes
Technical: Monitor for trendline breakout $BAUTO / 5248 (BERMAZ AUTO BERHAD)

Stock Name: ELSOFT (0090)
Entry: Buy above RM0.90
Target: RM0.955 (6.1%), RM1.01 (12.2%)
Stop: RM0.865 (-3.9%)
Shariah: Yes
Technical: Monitor for trendline breakout $ELSOFT / 0090 (ELSOFT RESEARCH BERHAD)

Source: Bloomberg, M+ Online