Market sipeh sian: stock for trading purpose: CSL(target 25 cents) and MAS ( target 40 cents)
Hong Leong IB Research said investors are likely to remain on the sidelines,
given the lingering concerns on the
1) U.S government shutdown and debt ceiling deadlines,
2) upcoming UMNO election (19 Oct) and
1 more MCA EGM (20 Oct)
3) the tabling of Budget 2014 (25 Oct).
“Technically, a quick rebound above the 10-d SMA or 1780 is necessary to prevent further slide towards 1736-1754 key supports.
“A rebound above 1780 will spur greater upside to 1800, 1805 (20 Sep high), 1812 (25 July high) and 1826 (all time high),” it said.