BURSAMASTER:

BURSAMASTER WATCHLIST
31 OCT TO 4 NOV 2016
1. TEKALA
2. SAMCHEM
3. VS
4. DSONIC
5. DNEX
6. DRBHICOM
7. PMETAL
8. LBALUM
9. PESONA
10.THHEAVY

HAPPY TRADING
BURSAMASTER:

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TheBursa Analyst:
Monday 31st October:

The world market is slightly bearish, awaiting for the United State presidential election which will be held on 4-November. Many investors and traders will be staying on the side line, waiting for the outcome of the election results. If Trump were to win, we shall expect a market correction on a global scale. If Hilary were to win the election, the market condition as I see it will get a light boost. Most commodities are bullish, maybe this is a sign ? haha.

The DJIA was slightly down, due to poor APPLE quarter report, however it was balanced by the bullish news of BOEING.

The ringgit weakened against the USD at 4.20.

The oil prices are fluctuating and was slightly bearish. Crude oil prices are trading below $50, due to uncertainties of the OPEC deal. And this has impacted the world market as well.

Friday we saw mostly Oil Palm stocks trading such as INNO, KWANTAS, SIME, GENP, HAPSENG, GLBHD.

THHEAVY and DESTINI joint venture, and both have been traded as well on Friday 28 October.

Long term stocks:

DKSH: support at 6.02, Target price 7.5

Mid term stocks:

PIE: Support 1.95, TP 2.38

Stocks to watch this week (31Oct – 4November) are:

PRESBHD (education) budget mentioned about PPP which are projects of PRESBHD, and on Friday we see some interesting movement as well. Support 2.20 Tp1: 2.38 Tp2: 2.46. Last week was a brutal washing happen. Now after washing it should be like rocket already, up up up up up up !

ECONBHD (construction): Support 1.79, TP 2.0

MMSV (LED and semicon in automotive inds): Support 0.64, Tp 0.705

TOMYPAK: Monitor for breakout at 1.65, more attention is at this counter already.

UEMS: (oversold) Support is at 1.08, TP 1.19

KIMLUN (construction): support 2.12, TP 2.26

REXIT (insurance): support 0.635, TP 0.745

ECS: support 1.51 , TP 1.6

MIECO: (export) support 1.0. TP:1.14, already break out with ok volume.

++++++++++

: *CORPORATE NEWS*

*PERSTIM* net profit ⬇ 6% to RM13.25 million in 2QFY17, from RM14.08 million a year ago, due to lower profit margin.

Lembaga Tabung Haji (LTH) has emerged as a substantial shareholder in piling and engineering specialist *IKHMAS* after purchasing 26.9 million shares or 5.17% stake in the company.

*TMCLIFE* net profit doubled for the 4QFY16, standing at RM5.87 million from RM2.89 million a year earlier, due to better interest income, while the previous year saw higher corporate exercise cost.

*APM* has formed a 60:40 joint venture (JV) with Japan’s Delta Kogyo Co Ltd to develop automobile seating system for Mazda cars.

*PETRON* said its external auditors Messrs Baker Tilly Monteiro Heng have expressed a disclaimer opinion in the Practice Note 17 (PN17) company’s latest financial statements for the financial year ended June 30, 2016 (FY16).

*Tan Sri Lodin Wok Kamaruddin, 67, is stepping down as *AFFIN* deputy chairman with immediate effect, as his contract is not being renewed.

+++++++++

U.S. equities closed mostly lower on Friday after the Federal Bureau of Investigation announced it is investigating new emails related to Democratic nominee Hillary Clinton. Earlier, the three major indexes had drifted higher following the release of better-than-expected U.S. GDP data, while investors continued to parse through a slew of corporate earnings results.
* Dow -8
* S&P -6
* Nasdaq -25

The U.S. economy grew at an annualized rate of 2.9% in the third quarter, marked the fastest economic growth in two years. Economists polled by Reuters had forecast GDP rising at a 2.5% annual rate in the third quarter.

⛽ Oil prices edged 2% lower on Friday on doubts about OPEC’s planned output cut.
* crude oil $48.70 (-0.91)
* Brent crude $49.78 (-0.69)

Japan’s Sep national CPI report of -0.5% y/y was unchanged from Aug and was in line with market expectations.

Japan’s Sep unemployment rate of 3.0% was down from Aug’s +3.1% and showed a slightly stronger labor market than market expectations of 3.1%.

Gold rose 1% to the highest level in nearly four weeks on Friday, extending gains late in the session after the FBI said it will further investigate Democratic presidential candidate Hillary Clinton’s use of a private email system. Now, $1277.50 (+2.00)

FCPO (RM2788, +2) closed marginally higher in range trading. Sentiment generally tracking external movement such as China Dalian futures which closed higher after trading lower in the morning session. Weaker ringgit had little effect. Seasonal drop in production after Oct and tightness in global vegetable oils supplies may see support continuing. However, lower Oct export, higher Oct productions and stocks may limit the upside.

++++++++++

M+ Online Morning Buzz – 31Oct16*

*Dow Jones: 18,161.19 pts (-8.49pts, -0.05%)*
U.S. stockmarkets ended on a lower note after the FBI decided to re-look into Clinton e-mails. Also, sentiments were weak after crude oil extended another negative session.

*FBM KLCI: 1,670.27 pts (+1.24pts, +0.07%)*
The FBM KLCI rebounded to end marginally higher above the 1,670 level led by Tenaga Nasional. The FBM KLCI may retest the 1,680 level over the near term.

*Crude Palm Oil: RM2,788 (+RM2, +0.07%)*
Crude palm oil trended sideways near the RM2,800 level amid steadier US dollar. If the CPO surges above RM2,800, next target will be envisaged around RM2,900.

*WTI Crude Oil: $48.70 (-$1.02, -2.04%)*
Crude oil extended its retracement phase below the US$50 per barrel mark after failing to agree on production cuts during the OPEC meeting. Crude oil’s support will be set around the US$46 level.

*Gold: $1,275.47 (+$7.07, +0.56%)*
Gold gained some minor buying momentum ahead of the FOMC meeting that will be held this week. Upside potential will be set around the US$1,300 level.

*Economic Releases:*
Eurozone – Eurostat Eurozone CORE MUICP – 31Oct16, 6:00PM
US – MNI Chicago Business Barometer – 31Oct16, 9:45PM
US – Dallas Fed Manufacturing Outlook – 31Oct16, 10:30PM

*Bursa Malaysia Trade Statistics – 28Oct16*
Institutions: *Net BUY* 23.9 mln (63.6%)
Retail: *Net BUY* 7.5 mln (14.4%)
Foreign: *Net SELL* 31.4 mln (22.0%)

*Potential Momentum Stocks – 31Oct16*
*Stock Name: REXIT (0106)*
Entry: Buy above RM0.665
Target: RM0.725 (9.0%), RM0.75 (12.8%)
Stop: RM0.63 (-5.3%)
Shariah: Yes
Technical: Flag formation breakout

*Stock Name: RUBEREX (7803)*
Entry: Buy above RM0.83
Target: RM0.925 (11.4%), RM0.95 (14.5%)
Stop: RM0.825 (-0.6%)
Shariah: Yes
Technical: Supported above EMA9

_*Source: Bloomberg, M+ Online*_

+++++++++++

Source:The Edge Market
The market started on a bullish note last week after the tabling of the budget but failed to rally as global market performances were mixed and ringgit weakened against the US dollar.

Trading volume remained low and this indicates that market participants are staying in the sidelines. The reason could probably be the US presidential election which is going to be held in less than two weeks.

The FBM KLCI closed marginally higher from the previous week at 1,670.27 points last Friday after pulling back from a high of 1,677.8 points.

The average daily trading volume last week was firm as compared to the previous week at 1.6 billion shares. The average trading value was also firm at RM1.9 billion. This shows that the market participation remained weak. Total market valuation shrank RM1 billion from the previous week to RM1,703.6 billion last Friday.

Local institutions were net buyers last week as weaker ringgit hurt foreign institutions sentiment. Net buy from local institutions last week were RM4023 million and net sell from foreign institutions were RM397 million. The Malaysian ringgit weakened from RM4.18 per US dollar to RM4.19 last Friday.

The FBM KLCI broke above the immediate resistance level at 1,675 points last week but failed to stay above it and rally. This indicates that the market confidence remained weak. The index remained inside the triangle chart pattern range between 1,650 and 1,675 points. However, the index is able to stay above the short and long term 30 and 200 day moving averages when it pulled back. Furthermore, the index continued to stay inside the Ichimoku Cloud indicator. This indicates that there is still support in the market despite being directionless.

The RSI and Momentum Oscillator indicators stayed above the moving average. Furthermore, the MACD indicator stayed above its moving average and the FBM KLCI is is above the middle band of the Bollinger Bands indicator. This also indicates that the sentiment is slightly bullish as it is being supported.

The directionless performance of the market on week after the budget shows that there is not enough catalyst for the equities market. Furthermore, the US presidential candidate in less than two weeks time added the uncertainty. Expect the market to remain directionless in the next two weeks and the index to trade between 1,650 and 1,675 points.

Out of the general market uncertainty, metal and agricultural commodities continued to rally. Hence, plantation and steel producers sectors are currently bullish and are expected to last until the end of the year, especially if the US dollar remained strong.

+++++++++

Logic Trading Analysis:
BURSA MALAYSIA MARKET IDEAS MONDAY (31/10/2016):

FBMKLCI WAITING US PRESIDENT RESULT on 8/11

Dear All,

The FBMKLCI closed higher at +1.24 point or +0.07% to close at 1670.27.

FBMKLCI moving sideways last whole week, not much big movement after spike up and correction down.

DJIA remain very volatile and stay above 18000, a level that may break and waterfall anytime. All eye on US President Election result, and expecting coming week market remain very volatile.

Because we need more time to get ready for any big direction, we already start to reduce and stay away until clearer sign show. Do not trade like barbarian now.
Never Stop Doing Your Best Just Because Someone Doesn’t Give You Credit This Monday ! !!

“Goreng Tetap Goreng” !

Yours Sincerely,
Logic Trading Analysis

+++++++++++

The Bursa Analyst Channel:
Monday 31st October:

The world market is slightly bearish, awaiting for the United State presidential election which will be held on 4-November. Many investors and traders will be staying on the side line, waiting for the outcome of the election results. If Trump were to win, we shall expect a market correction on a global scale. If Hilary were to win the election, the market condition as I see it will get a light boost. Most commodities are bullish, maybe this is a sign ? haha.

The DJIA was slightly down, due to poor APPLE quarter report, however it was balanced by the bullish news of BOEING.

The ringgit weakened against the USD at 4.20.

The oil prices are fluctuating and was slightly bearish. Crude oil prices are trading below $50, due to uncertainties of the OPEC deal. And this has impacted the world market as well.

Friday we saw mostly Oil Palm stocks trading such as INNO, KWANTAS, SIME, GENP, HAPSENG, GLBHD.

THHEAVY and DESTINI joint venture, and both have been traded as well on Friday 28 October.

Long term stocks:

DKSH: support at 6.02, Target price 7.5

Mid term stocks:

PIE: Support 1.95, TP 2.38

Stocks to watch this week (31Oct – 4November) are:

PRESBHD (education) budget mentioned about PPP which are projects of PRESBHD, and on Friday we see some interesting movement as well. Support 2.20 Tp1: 2.38 Tp2: 2.46. . Last week was a brutal washing happen. Now after washing it should be like rocket already, up up up up up up !

ECONBHD (construction): Support 1.79, TP 2.0

MMSV (LED and semicon in automotive inds): Support 0.64, Tp 0.705

TOMYPAK: Monitor for breakout at 1.65, more attention is at this counter already.

UEMS: (oversold) Support is at 1.08, TP 1.19

KIMLUN (construction): support 2.12, TP 2.26

REXIT (insurance): support 0.635, TP 0.745

ECS: support 1.51 , TP 1.6

MIECO: (export) support 1.0. TP:1.14, already break out with ok volume.

LET THIS WEEK BE A GOOD WEEK ! WE WAIT FOR TRUMP TO WIN !! MAKE AMERICA GREAT AGAIN ! MAKE THE MARKET SALES !

Follow The Bursa Analyst Channel for potential stockpicks and daily update.

https://telegram.me/TBAChannel

+++++++++++++

BursaKakis Channel :
Presbhd may move higher after heavy volume to close up 0.11 @ 2.28 on 28/10/2016. Watch for breakout above 2.30. MACD line is touching the Golden Cross & Sochastic is pointing up – BKs

ECS may trend higher after broke above the downtrend line with high volume to close up 0.06 @ 1.54 on 28/10/2016. MACD has crossed the zero line – BKs

BKs Technical Ideas 31/10/2016

1) Presbhd
2) ECS
3) RceCap

Kindly refer to charts posted in BKs.

Our Telegram Link: telegram.me/bursakakis

Our Facebook Link : https://www.facebook.com/groups/192414771167397/

DISCLAIMER: The comments here are for sharing and learning purposes and do not represent a recommendation to buy or sell. Kindly consult your remisiers or dealers before you take any action. Thank you.

+++++++++

CIMB Trading Ideas 31/10/2016

1) SP Setia
2) Nylex

Kindly refer to charts posted in BKs.

Our Link: telegram.me/bursakakis

Kinsteel triggers PN17 criteria pursuant to listing requirements

http://www.thestar.com.my/business/business-news/2016/10/29/kinsteel-triggers-pn17-criteria-pursuant-to-listing-requirements/

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