Thursday, 22 September 2016

ATTN: ALL Bursa Traders,

The FBMKLCI closed higher, recovering after lunch at 1658.73 (+2.95or +0.18%). It seems that the KLCI is quite bullish and after a hammer, we have a white candlestick normally as confirmation of bearish reversal. Lets hope that the KLCI can maintain its bullishness back to 1680.

Meanwhile, our neighbouring market outlook for the day are:

·        Australia S&P/ASX200 closed higher at 5,280.51 (+36.13 or +0.69%)

·        China A50 closed higher at 9,610.30 (+14.47 or +0.15%)

·        Hong Kong HSI closed higher at 23,669.9 (+139.04 or +0.59)

·        Indonesia’s IDX Composite closed higher at 5,342.59 (+40.1 or + 0.76%)

·        Japan’s Nikkei Closed higher at 16,807.62 (+315.47 or +1.91%)

·        South Korea KOSPI closed higher at 2,035.99 (+10.28 or +0.51%)

·        Taiwan Weighted closed higher at 9,228.50 (+66.93 or 0.73%)

·        The USD opened weaker against our MYR at 4.132 but is continue to climb as of now.

·        Crude Oil prices closed higher at 44.05.

DJIA closed at 18,129.96 and opened high at 18,164.96.

All our neighboring markets are very bullish including out KLSE. Today we will know the FOMC outcome. From market reaction, seems like there will be no interest rate hike, mainly due to weaker economy data from the USA. Also look at all the markets !! either they are no fear against the FOMC outcome or they are just reacting happily from BOJ maintaining -0.1%

Stocks to watch are:

SIGN: this company makes household stuffs. Can monitor. Cut if break RM 0.925.

I am bullish on iqgroup, funny nobody want to sell. Wait until all the weak shareholders are being kickoff the boat then we shall set sail !

IQGROUP: strongly supported at RM2.27. I think it is hard to wait at RM 2.18, more realistically hope break the RM 2.27 support which then will break to RM2.21 is a ideal entry for those who have yet to grab the ticket.

Stocks follow up :

AirAsia: A harami formed ! those who got this just ride back to RM 2.94. cut if break RM2.77

Salute: hammer formed on the support of RM1.32 !! more to come.

VS: healthy correction. Support formed on RM1.37 and can consider to enter on support. Cut if Support is broken.

PWF:  Closed at RM 0.730 This one more towards midterm and can start collection at this level.

Get your information right to avoid being fooled by the market !

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