"Will it be a Bull Trap?"
Weekly Trend: Trending up with downside bias
FBMKLCI formed higher low and lower highs in the past 6 weeks. This suggests a bullish signal from technical point of view.
Support level pledged at 1620 while resistance level at 1655. we shall see further correction if 1620 level being violeted.
Sector in focus: Consumer. Drought causing the hike of raw food prices amid haze issues.
Stocks picked for next trading week:
1. Oldtown: TP 1.42, 1.58 SL 1.24
2. Bonia: TP 0.81 SL 1.24
3. Supermx: TP 2.20, 2.30 SL 1.92
4. Penta: TP 0.84, 0.90 SL 0.75
5. Unisem: TP 2.23, 2.30 SL 2.01
6. Comform: TP 0.865 SL 0.790
7. SunCon: TP 1.31 SL 1.16
8. Armada: TP 1.15 SL 0.885
9. Malakof: TP 1.86 SL 1.59
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