Market Outlook Week Starting 04.11.2013 KLCI expected to trade on side-way, 1710 - 1810, bias to downside. Foreign fund still a net seller last week although on a softer mode. KLSE still very much uphold by local institution, very important that KLCI cannot breakdown below 1790 otherwise downtrend will start. Dow Jone having triple top now, will see pullback to 15500, being the support. SGX is a undervalue market now, trading below 200MA, in sync with Shanghai market (also trading below 200MA) as 40% of the stocks listed in SGX are related to China industries. KLSE is a fully valued market now, so stock selection is very crucial for continued trading profits. Times to look for SGX stocks now, given ringgit appreciation and anticipated atleast 5% recovery for SGX market. Counters that worth tracking from technical perspective in the coming week: MBMR - Breakout on low volume TIMECOM - supported at RM4.00, wait for upward breakout SUMATEC - waiting to breakout above 35sen, and trending higher Till then, happy trading
Posted on: Sun, 03 Nov 2013 14:10:04 +0000
Trending Topics
© 2015