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Last Done: RM4.90
The stock rebounded strongly above the SMA 200 level, indicating further upside is expected with the immediate strong support is seen at SMA 200 (RM4.75). Any new position initiation can take the above mentioned level as your stop loss level.
The immediate support is seen at RM4.75, followed by strong support at RM4.50 and the immediate resistance is seen at RM5.00, followed by RM5.50.
Sell on Strength…
For risk taker, any level above 1780 should provide an opportunity for investors to initiate short position. As for risk averse investors, any level above 1800 only should provide investors with opportunity to accumulate short position.
The immediate support is seen at 1750 level, followed by 1740 level and the immediate resistance is seen at 1780 level, followed by 1800 level.
Hovering around SMA 200…
The FCPO is expected to hover around the SMA 200 level. If the FCPO can regain its posture above the 2380 level, the FCPO is expected to resume its uptrend, else, the downward trading is expected to set in.
For intraday traders, the FCPO is expected to trade within the range of 2280 to 2380 levels. Any level approaching the 2280 level should provide the opportunity to initiate long position and vice versa for 2380, however, any new position initiation should couple with tight stop loss level.
The immediate support is seen at 2300 level, followed by 2280 level and the immediate resistance is seen at 2400 level, followed by 2450 level.
The information herein was obtained or derived from the source that I believed are reliable. No liability can be accepted for any loss that may arise from the use of this report. All opinions and estimates included in this report constitute my judgment as of this date, not an invitation to buy and are subject to change without further notice.