Remisier

01/06/2016

17/08/2015

The FBM-KLCI lost another 24.80 points or 1.53% to close at 1596.82. This is the KLCI’s worst performance since 28/6/2012. Losers beat gainers by 782 to 148.

A nightly scan of our F1-Turtles buy/sell signals revealed that F1-Turtles buy signal stocks fell from 18 to 11 and F1-Turtles sell signals rose 82 to 175 which suggests weakness ahead.

Last Thursday’s rebound, induced by Bank Negara’s report of better-than expected second quarter growth, was short-live. Selling pressure re-surfaced coming from:- (1) continuing weakness of the ringgit to test a new 17 year low of 4.0790, (2) political madness at home and (3) a weak China economy ahead.

The KLCI is now below the psychological 1600 mark. Technically, the KLCI remains weak and have been so since it crashed through the 1660 support level on 11/8/2015. An Elliott wave reading of the KLCI (see KLCI chart attached) suggests that its next targets are at 1562, 1492 and 1449. The equivalent in the FKLI is at 1527, 1445 and 1395. The Wyckoff method pegs the KLCI to an even lower low of 1230-1207. The U.S. dollar/ringgit’s projected targets of 4.1460, 4.3760 and 4.5190 are expected to put pressure on the KLCI to test the said levels.

This time around, the ringgit’s fall seems to have a negative impact on export-based stocks. The majority of lower liners and penny stocks have not succeeded in exceeding the high of the long black candle of 10/8/2015. This is a bad sign and until it does, we are now bearish on lower liners and penny stocks as well.

17/08/2015

Malaysia may have to contend with further currency volatility after Bank Negara Malaysia assured capital control measures were not on the cards to stem the ringgit's depreciation, digitaledge WEEKLY reported in its latest August 17-23 issue.

Yesterday, the ringgit weakened to a fresh level against the US dollar at 4.1270 after China devalued its currency and crude oil prices fell. Against the Singapore dollar, the ringgit depreciated to a new level at 2.9346.

China's move to devalue its currency led to expectation that other Asian central banks will do the same to ensure export competitiveness. The ringgit's strength correlates with crude oil prices as the commodity is a major component of the Malaysian economy and accounts for some 28% of government revenue.

Following Bank Negara's assurance, digitaledge WEEKLY said : "This means the country has to brace for more ringgit volatility even as investors try to find their footing in the financial markets on the expectation of interest rate normalisation in the US."

The report by digitaledge WEEKLY followed a press conference by Bank Negara last Thursday in conjunction with the announcement of the country's second quarter economic numbers.

05/08/2015

FBMKLCI 1,723.73 (-20.46pts,-1.17%)

The FBMKLCI plunged lower after losing 20.46pt to close at 1,723.73 following a flurry of profit-taking activities in selected index-linked counters as well as weaker sentiments across the board.

MSCI Asia Pacific Index (+0.40%)
Asian stocks rose, led by a rally in Chinese shares, after regulators imposed limits on short selling equities on the mainland in the latest effort to stabilise the market.

Top Gainers: MISC (+5.4%), Genting Bhd (+0.84%) and Genting Malaysia (+0.71%)
Top Losers: Maxis (-8.47%), Axiata Group (-5.99%) and UMW Holdings (-5.97%)

FBMKLCI
Support: 1,700, 1,688
Resistance: 1,751, 1,774

15/06/2015

Stocks to watch:
1) TEK SENG HOLDINGS; Technical BUY with +23.4% potential return
*Last: RM0.555 Target: RM0.630, RM0.685 Stop: RM0.490
*Timeframe: 2 weeks to 2 months

2) THREE-A RESOURCES; Technical BUY with +25.9% potential return
*Last RM0.985 Target: RM1.14 RM1.24 Stop: RM0.895
*Timeframe: 2 weeks to 2 months

3) CAN-ONE; Technical BUY with +14.3% potential return
*Last: RM2.71 Target: RM2.94, RM3.19, Stop: RM2.64
*Timeframe: 2 weeks to 3 months

12/05/2015

Stocks to watch:
1) MILUX CORPORATION; Technical BUY with +24.3% potential return
*Last: RM1.11 Target: RM1.29, RM1.380 Stop: RM0.945
*Timeframe: 2 weeks to 2 months

2) MALAYSIAN RESOURCES CORPORATION; Technical BUY with +22.0% potential return
*Last RM1.34 Target: RM1.59 RM1.72 Stop: RM1.27
*Timeframe: 2 weeks to 2 months

3) SCC HOLDINGS; Technical BUY with +27.5% potential return
*Last: RM2.11 Target: RM2.49, RM2.69, Stop: RM1.89
*Timeframe: 2 weeks to 3 months

28/04/2015

Stocks to watch: Bursa Malaysia

1) GROMUTUAL; Technical BUY on breakout with +21.7% potential upside
*Last: RM0.51 Target: RM0.595, RM0.645 Stop: RM0.48
*Timeframe: 2-weekS to 2-monthS

2) ACOUSTECH; Technical BUY on breakout with +25.2% potential return
*Last RM0.70 Target: RM0.845, RM0.92 Stop: RM0.675
*Timeframe: 2-weeks to 2-months

3) WATTA HOLDINGS; Technical BUY breakout with +30.1% potential return
*Last: RM0.35 Target: RM0.44, RM0.475 Stop: RM0.315
*Timeframe: 2-weeks to 2-months

31/01/2015

FBMKLCI index has broken the key resistance of 1770. This is a very significant level as it had been tested as both support and resistance levels on several occasions since 2013. Each time this level held up as resistance, the index traded lower. But each time it held on as support, the index traded higher. Now with the index breaking this key resistance, that implies that bullish momentum is returning to the market. However, it may be impulsive to buy any stocks just because the market is bullish. To increase the likelihood of a profitable trade, look for good stocks traded at a good prices.

21/01/2015

“Declining oil prices do not directly impact current electricity tariffs because electricity generation in (cont) http://t.co/nEGm9gouTk”

28/06/2014

New IPO
Tanah Makmur Berhad
(Formally known as Kreatif Selaras Sdn Bhd)

Main market listing
Application
Offer opening :26 June 2014
Offer closing : 3 July 2014
Tanah Makmur IPO At RM1.25 Per Share

Thursday, Jun 26 2014
KUALA LUMPUR: Pahang-based plantation player Tanah Makmur Bhd has priced its initial public offer (IPO) at RM1.25 per share as it seeks a listing on the Main Market of Bursa Malaysia Securities.

According to its prospectus issued on Thursday it said the IPO comprised of 101.59 million shares of 50 sen each.
Tanah Makmur took over plantation-based Kurnia Setia Bhd four years ago, is set to make its debut on the Main Market of Bursa Malaysia.

The company is seeking a listing as a plantation and property player as opposed to Kurnia Setia that was a pure plantation outfit.

Its IPO comprised of an offer for sale of 49.45 million existing shares and a public issue of 52.14 million new shares.

Tanah Makmur said the institutional tranche of 75.18 million shares would be offered to Malaysian institutional and selected investors at RM1.25 per share.

The retail offering of 26.40 million IPO shares would be offered to the eligible directors, employees and eligible persons and the Malaysian public at RM1.25 per share.