Friday, 7 October 2016

Dear Retailers,

KLCI up +3.81 to close higher at 1,666.73, DJIA currently unsure of its direction and sits at 18,268. Crude oil is trading at 50, USD strengthen agains MYR and is currently at 4.15. Despite oil prices going up how come our ringgit is not moving ? is it a hint to play on export counters?  

Friday 7/10/2016 market ideas:

1.      WCT: mainly playing on budget announcement. Today up up again. Cut if close below 1.68.

2.      HEVEA: It is trading at its resistance of 1.27, which will determine whether it will break out or not. You can que lower , or you can buy at breakout 1.28. Cut loss if it goes below 1.24.

3.      TALIWRK (refer to 6/10) really many FIFO play but holders don’t worry, it is at support now. I think this counter will give love letter soon.

4.      OWG : bullish signs appear, it is now at its support. OWG cut if below 2.24.

5.      SKPETRO and DIALOG to rally along with oil. SKPETRO cut if below 1.59 and DIALOG close below 1.5 then cut loss. SKPETRO is up up and DIALOG is currently on support.

Continue to follow:

1.      Kimlun (midterm): First highlighted two days ago when price was 2.14. any pull back is a good chance to enter and remain TP of 2.50.

2.      OCNCASH (midterm / contra) both also can. As long as it stay above the 0.4 line, it will have chance to shoot up.

3.      WCT cut loss refer to 6/10/2016

4.      Pwf (20/9), suncon 28/9 If you have these just continue to hold. Already bullish, any retracement can consider to increase position in suncon.

FRIDAY ! SALES DAY !

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