KLCI, SPOTMNTH, BURSA, EKSONS, SCOMAL, SPOLYMR, CEPAT, MEASAT

The bulls continued to charge forward, spurred by encouraging economic-stimulating news on the home front and positive leads from abroad, such as the strong performance of regional exchanges, Wall Street's sustainable rally and plummeting global crude oil prices. Profit-taking activity appears well absorbed and any pullback is brief and shallow. The prevailing underlying tone of the local bourse is extremely upbeat. Given the positive developments in the US, Bursa Malaysia may just extend the upward thrust in the immediate term, with sporadic profit taking along the way. After all, technical indicators are still painting a promising picture. We had seen some sideways trading on Friday but volume remained strong -- there had been a mixture of both local and foreign funds buying. However early next week, trading is likely to turn relatively quiet after the three-day-long UMNO (ruling United Malays National Organization) general assembly ended.


KLCI
As long as CI able to maintain above 1,025 support, the 1,070-1,080 target within reach. Important date is 22 Nov. (See the Chart)

For 17 NOV the Index closed at 1,040.7900.
Overall, the bias is: Upwards.
Short term: Moving.
Intermediate term: Trending.
The projected upper bound is: 1,055.09.
The projected lower bound is: 1,029.57.


SPOTMONTH
Maintan Target 1,040 Tip Top

For 17 NOV the closing price was 1,035.0000.
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
The projected upper bound is: 1,049.38.
The projected lower bound is: 1,024.12.


BURSA
Testing Resistance 6.95-7.00. Next target 7.10 - 7.50

For 17 NOV the closing price was 6.9000.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 7.23.
The projected lower bound is: 6.61.

EKSON
Testing Resistance 1.26. Next Target 1.36

For 17 NOV the closing price was 1.2400.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 1.31.
The projected lower bound is: 1.18.


SCOMAL
Best Bet 0.13. Trading Play.

For 17 NOV the closing price was 0.1400.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.16.
The projected lower bound is: 0.12.


SPOLYMR
Better Bet at 0.89. Target 0.95

For 17 NOV the closing price was 0.9050.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.95.
The projected lower bound is: 0.86.

CEPAT
Testing Resistance 0.85-0.86. Next Target 0.90.

For 17 NOV the closing price was 0.8550.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.89.
The projected lower bound is: 0.82.


MEASAT
Someone e-mailed asking target for this counter. Heading toward resistance 2.50-2.55/3.00-3.15. Support 2.20. Tip Top Condition.

For 17 NOV the closing price was 2.3300.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 2.46.
The projected lower bound is: 2.22.

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