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Monday, 9 November 2015

9 Nov - 13 Nov Market Outlook “Weakening Ringgit & Lower Crude Oil Continue to Pressure The Market

Weekly Trend: Sideway with downward bias
 
The FBMKLCI closed at 1685.7 after a light rebound from its recent low 1659 level. The USD/MYR exchange rate quoted at 4.36 after a spike seen during Friday night which it's now approaching to previous high 4.48 level. In addition, the Crude Oil price extended its three straight day losses which could further pressure our local market sentiment. This week we re-select export related counters as our sector in focus, meanwhile we are also looking into some oversold counters.
Support: 1659
Resistance: 1727
 
Sector in focus: Export related Counters
 
Stocks to watch:
 
Last week (2/11-6/11)
PESTECH TP:7 SL:5.90 (Reached TP, remain) 
SUNCON TP:1.45 SL:1.25 (Remove)
HOHUP TP:1.10 SL: 0.95 (Remain)
OLDTOWN TP:1.43,1.50 SL:1.25 (Reached 1st TP, remove)
FGV TP:2.30 SL:170 (Remove)
MITRA TP:1.42 SL:1.18 (Remove)
MYEG TP:3.30 SL:2.71 (Reached TP, remove)
SUPERMX TP:2.50 SL:2.17 (Remain)
TUNEPRO TP:1.58 SL:1.38 (Remove)
SUNWAY TP:3.20 SL:3.05 (Triggered SL, remove)
JAKS TP:1.34,1.43 SL:1.11 (Remain)
 
**This week (9/11-13/11)**
PESTECH TP:7 SL:5.9 
HOHUP TP:1.1 SL: 0.95
SUPERMX TP:2.5 SL:2.22
JAKS TP:1.34,1.43 SL:1.11
AEMULUS TP:0.67 SL:0.53
DSONIC TP:1.80 SL:1.45
PENTA TP:0.84,0.9 SL:0.76
SCICOM TP:2.1,2.2 SL:1.98
HOMERIZ TP:1.23 SL:1.06
 
 
 
Price as at Monday closing 9 th November:
 
 
 
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Bursa Blue Ocean (by MIVCO)
 
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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. In today’s trade markets witnessed a gap up opening after Mood’s raised India’s credit rating from Baa3 to Baa2.
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