Monday, 21-11-2016
 

After Trump’s victory, the US DJIA has beed bullish since, and maybe some of you can consider to start investing in US stocks, can gain on FOREX and CAPITAL gains.

KLCI is to remain weak for the timebeing, however the selling pressure is decreasing and I am seeing a rebound or reversal soon. The selling pressure from foreign fund is beginning to decrease although they have approximately pulled out 2Billion from our market. The amount of foreign fund is also decreasing. The rebound/reversal play on KLCI will soon start as window dressing will also be a factor for the rebound.

OPEC meeting is on 30 November and this will be a interesting meeting. From my view, I think the reduction of OIL supply will be successful. Oil prices are trading around 44-46 level last week. The attention on Oil and Gas counters are still not threre.

USD/MYR however was very bad despite measures taken by BNM. The USD/MYR is currently at 4.41 level. We will see export theme again, like déjà vu… back to 2014. Give some attention at Hevea as the QR will be out soon.

Long term stocks:

DKSH, KESM, KERJAYA

Stocks to watch this week 21 November to 25 November   are:

PRESBHD : FINALLY THIS ONE COME ! Monday surely PANIC BUY.

SAPRES: 0.965. Monitor for breakout at 0.985. Tp1: 1.03, Tp2:1.09.

WCT: Watch for closing breakout of 1.95. Support 1.86. TP1: 2.02 TP2: 2.14

ECONBHD (construction): Cutloss 1.79, Trailing stop:1.82(closing).  TP 2.0, Tp2: 2.15

KIMLUN (construction): support 2.12, TP 2.26 (touched). (bullish counter). TP2: 2.32.

Update: Add TS: 2.15

MIECO: (export) CutLoss 1.0. TP:1.14 (achieved). TP2:1.25. Trailing Stop: 1.11

HEVEA: (export + GOOD QR soon): Support 1.19, TP1: 1.41 tp2:1.51

TOPGLOVE: watch out for breakout of 5.32. Tp1: 5.45, Long term TP: 6.5. Cut loss: 5.12

JAYCORP: Breakout with volume. Will be very crasy. TP1:1.67     Tp2: SKY IS THE LIMIT

AIRASIA: Breakout and will go back to 2.85. Cut if close lower than 2.65

BACK FROM HOLIDAY ! FOREIGN FUND WILL COME BACK WITH ME !!

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