Monday 31st October:

 

The world market is slightly bearish, awaiting for the United State presidential election which will be held on 4-November. Many investors and traders will be staying on the side line, waiting for the outcome of the election results. If Trump were to win, we shall expect a market correction on a global scale. If Hilary were to win the election, the market condition as I see it will get a light boost. Most commodities are bullish, maybe this is a sign ? haha. 

 

The DJIA was slightly down, due to poor APPLE quarter report, however it was balanced by the bullish news of BOEING. 

 

The ringgit weakened against the USD at 4.20.

 

The oil prices are fluctuating and was slightly bearish. Crude oil prices are trading below $50, due to uncertainties of the OPEC deal. And this has impacted the world market as well.

 

Friday we saw mostly Oil Palm stocks trading such as INNO, KWANTAS, SIME, GENP, HAPSENG, GLBHD.

 

THHEAVY and DESTINI joint venture, and both have been traded as well on Friday 28 October. 

 

Long term stocks:

 

DKSH: support at 6.02, Target price 7.5

 

Mid term stocks:

 

PIE: Support 1.95, TP 2.38

 

Stocks to watch this week (31Oct - 4November)   are:

 

PRESBHD (education) budget mentioned about PPP which are projects of PRESBHD, and on Friday we see some interesting movement as well. Support 2.20 Tp1 2.38, Tp2:2.46. Last week was a brutal washing happen. Now after washing it should be like rocket already, up up up up up up ! 

 

ECONBHD (construction): Support 1.79, TP 2.0

 

MMSV (LED and semicon in automotive inds): Support 0.64, Tp 0.705

 

TOMYPAK: Monitor for breakout at 1.65, more attention is at this counter already. 

 

UEMS: (oversold) Support is at 1.08, TP 1.19

 

KIMLUN (construction): support 2.12, TP 2.26

 

REXIT (insurance): support 0.635, TP 0.745

 

ECS: support 1.51 , TP 1.6

 

MIECO: (export) support 1.0. TP:1.14, already break out with ok volume. 

 

LET THIS WEEK BE A GOOD WEEK ! WE WAIT FOR TRUMP TO WIN !! MAKE AMERICA GREAT AGAIN ! MAKE THE MARKET SALES ! 

 

Follow The Bursa Analyst Channel for potential stockpicks and daily update.

https://telegram.me/TBAChannel