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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Sincerely,

Bursa Blue Ocean (by MIVCO)

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