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Sunday, 1 November 2015

2 Nov - 6 Nov 2015: Market Outlook “Weakening Malaysia Ringgit Continue to Pressure the Stock Market

Weekly Trend: Downtrend

The FBMKLCI closed lower at 1665.71 last Friday after the violation of 1700 psychology level on 27th October. This week, Bursa Malaysia is likely to consolidate with downside bias.
Support: 1660, 1630
Resistance: 1700-1720
Sector in focus: Export related Counters
Stocks to watch:
Last week (26/10-30/10)
ENGTEX TP: 1.22, 1.30 SL:1.10 (Remove)
✅PESTECH TP:6.40, 6.50 SL:5.90 (Remain)
✅SUNCON TP:1.45 SL:1.25 (Remain)
✅HOHUP TP:1.10 SL: 0.95 (Remain)
✅OLDTOWN TP:1.43,1.50 SL:1.25 (Remain)
✅FGV TP:2.30 SL:170 (Remain)
PMETAL TP:2.69 SL:2.07 (Remove)
✅MITRA TP:1.42 SL:1.18 (Remain)
✅MYEG TP:3.30 SL:2.71 (remain)
**This week (2/11-6/11)**
👉🏻SUPERMX TP:2.50 SL:2.17
👉🏻TUNEPRO TP:1.58 SL:1.38
👉🏻SUNWAY TP:3.20 SL:3.05
👉🏻JAKS TP:1.34,1.43 SL:1.11
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Bursa Blue Ocean (by MIVCO)

Disclaimer and Declaration
The information is meant for the members of Bursa Blue Ocean (BBO). Disclosure and distribution of the message without the permission of BBO is prohibited. The full content of the article and write ups are for educational purposes only and should not be used as investment recommendations. We are not responsible for all investment activities conducted by the participants and cannot be held liable for any investment loss.

1 comment:

  1. • Religare Enterprises
    o Bay Capital Advisors Private Limited buys 21,25,294 shares at Rs 58.50 per share
    o IDBI Trusteeship Services sells 1,13,02,355 shares at Rs 58.51 per share
    o India Horizon Fund buys 71,50,000 shares at Rs 58.50 per share
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