Monday, 17/10/2016.

Last week KLCI closed lower at 1658.97. However this week we should see a rebound due to the BUDGET 2017.

Australia’s S&P/ASX 200 closed lower 5,377.03

China A50 closed higher at 5,377.03

Hong Kong HSI closed high at 23,233.31 after falling a lot. Should it break its resistance it will get back to its previous level, if not it will remain sideways at this level.

Indonesia’s IDX Composite was Bullish and closed at its resistance of 5,399.89

Japan Nikkei 225 closed high at 16,856

Korea Kospi was little bullish at 2022.66

Taiwan Weighted closed low at 9,165.

German Dax was bullish on the Friday and closed at 10,580 with a surplus of 1.6%

The Djia rebounded slightly, and closed 18,138.38.

The ringgit is still weak against USD and should rebound after Budget 2017 is announced. However Now we still can play on export stocks.

The fever of Megasteel closure has already subsided although we saw the steel theme was a little in play last Friday, however, I would suggest to take profit on steel counter, especially CSCSTEEL as I have heard that  insiders and HE is already distributing his shares.

Export related Stocks to watch :
HEVEA, Evergrn, Latitud, Mieco, Pohuat, Homeriz, Topglove, Supermx

With Iphone 7 sales in Malaysia, Watchlist:
KESM, Inari, Gtronic, UNISEM

Stocks to watch this week:

Silkholding Entry 0.39, support at 0.37

Presbhd: Entry 2.23-2.25 support at 2.19

OWG: Entry 2.24-2.26 support at 2.2

Awc: first support is at 0.815, second support is at 0.795

VERSATL: Entry at 1.22 support is at  1.19

KERJAYA: Entry at 2.29-2.31, support is at 2.27

CCK: Entry at support of 0.615

Homeriz: Entry 0.93 support 0.915

DKSH: entry at 6.47 support at 6.3

EG: Entry at new level of support/resistance breakout 0.87-0.88

KSL: Buy on Breakout of 1.15-1.16, support 1.1

Good luck this week !

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