Wednesday, 28 September 2016

Dear Traders,

The KLCI closed lower at 1664.72. Since yesterday the market is still undecided which direction to go. However looking at the bullishness around us, I am expecting Wednesday to be bullish as well.

Australia’s S&P/ASX 200, and the German DAX showed sign of slight bearishness while,

China A50, Taiwan Weighted, Korea’s KOSPI, Indonesia’s IDX, HSI and the Japan Nikkei is bullish after a slump Monday.

·        The USD STRENGHTENED against our MYR and opened at 4.1375.

·        Crude Oil prices opened lower at 45.63 after the hope OPEC give us to Freeze Oil Production seems to be fading again after they have set for a NO DEAL on oil output as the Saudis and IRAN at loggerheads, stating that it is not the time to make decision. However there will be another meeting which they will ‘try’ to reach an agreement on 30 November in Vienna.

DJIA opened at 18,099 and seems to be recovering after Hilary trumps Trump in the first presidential debate!

Moving Stocks to watch (28/ September) :

SUNCON: Monitor this counter, possible spike soon. Cut if close below RM1.60

PESTECH: Mentioned yesterday and today BIG ROCKET! I think it will have one more day of show before some pull back. Cut if break 1.64 support.

SUPERLN: Result seems good, but there is a big fall right before result out. Possibly to go higher, cut loss if close below 2.33

Let Wednesday Be Hot after the fake freeze !

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