Wednesday, 5 October 2016

Dear Retailers,

KLCI bullish and closed at 1661.25 however the market was rather and volume traded less than normal.

Market around us are showing bullish signs as the S&P/ASX Australian200, China A50, Hongkong HSI, Indonesia IDX, Japan Nikkei, Korea KOSPI, Taiwan Weighted, and the German DAX ALL ARE BULLISH !

·        The USD/ MYR strengthened and closed at 4.1488. (today might see some export counters rally).

·        Crude oil price is currently at 49.18, touching and testing the 50 resistance soon.

DJIA is still well supported above the 18,000 and closed lower at 18,165 as the market awaits the Fed’s announcement for job numbers are around the corner.  

Wednesday 5 October 2016 market ideas :

1.      ECONBHD: Forming a N-pattern with candle stick, along with bullish news, I see this stock going higher.

2.      WASEONG: Bullish, cut if close below RM0.87.

3.      TEKSENG: Will tekseng rebound again ? monitor closely.

Follow up stocks:

4.      Kimlun with a TP of RM 2.40-2.50

Lets make today a WINNER WEDNESDAY for everyone !

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