Thursday, 23 September 2016

ATTN: ALL Bursa Traders,

Yesterday all the GLC counters like UEMS FGV MBSB MRCB DRB MAYBANK moved like rhinoceros ! Crazier than bull !

The FBMKLCI closed higher 1,669.66 (+10.93 or + 0.66%). It seems that the KLCI is bullish and after a hammer, we have a white candlestick normally as confirmation of bearish reversal. This has been confirmed ! Also maybe because EFP is flooding some money into the market to support KLCI and improve liquidity. Anyway 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 5,316.06 (+35.55 or +0.67%)

·        China A50 closed higher at 9,678.62 (+68.32 or +0.71%)

·        Hong Kong HSI closed higher at 23,759.8 (+89.9 or +0.38%)

·        Indonesia’s IDX Composite closed higher at 5,380.26 (+37.67 or +0.71%)

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

·        South Korea KOSPI closed higher at 2,049.7 (+13.71 or + 0.67%)

·        Taiwan Weighted closed higher at 9,235.26 (+6.76 or +0.07%)

·        The USD opened weaker against our MYR at 4.1008 .

·        Crude Oil prices closed higher at 45.34.

DJIA closed 18,293.7 and opened high at 18,343.76! A bull is coming ! maybe a small one.

BULLS Everywhere!
As expected, Fed Yellen Speaks That there will BE NO interest hike ! together with Boj to maintain -0.1% Everybody in the market is getting into the mood !

Stocks to watch are:

JTIASA: seems like something coming up. Support is at RM 1.25, cut if it is broken.

NAIM: Seems to be coming already, Cut if break support of RM 1.69

Stocks follow up :

IQGROUP: Closed high of RM 2.33 today ! wonder if any of you entered. but if there is any pullbacks to RM 2.27, don’t hold back ! be confident.

AirAsia: Continue to hug, since gaped up and closed lower but still well supported. cut if break RM2.77

Salute: moved a bit but market still not sure about this stock. Supported at RM1.32 !! cut if break.

PWF:  Supports seems to be at this closing level of RM 0.730 after gap up.This one more towards midterm and can start collection at this level.

Hope for a good Friday with all the flying cows and BULLS ! MOOooooooo

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