Tuesday, 27 September 2016

Dear Traders,

The KLCI closed slightly lower -1.59 points at 1669.50, forming a doji. Market seems to lost its compass or is it Mostly affected by the bearishness of DJIA last Friday’s effect ?.

This time the bear caught the bull with its claws.

China A50, HIS, Indonesia IDX, Nikkei, KOSPI, Taiwan Weighted, German DAS all show sign of bearishness.

·        The USD opened WEAKENED against our MYR and opened at 4.1195.

·        Crude Oil prices rallied a little to 44.75. which is why we saw some oil and gas counter like PERISAI, BORNOIL were heavily traded. Hopefully the OPEC meeting around the corner will end with Freezing news.

The bearishness of DJIA continued to claw, opened lower at 18,217.76 and is currenly -100 points. This is due to many traders are unsure of the first presidential debate between Trump Taiko and Hilary Taikajie.

Moving Stocks to watch (27/ September) :

OKA: Very Bullish counter, Feeling like want to break new high.Well supported at Rm 1.32, cut if it closes 1.30 or lower.

PESTECH: Going to test the 1.64 resistance. Still healthy as long as it is above 1.6

Tuesday Trump will decide hair fall or hair UP !

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