1st November 2011, Tuesday (AirAsia - Final Coverage)

FBMKLCI

Approaching Peak?

Too early to make a conclusion on the above question, however, the resistance definitely getting tougher as the index is approaching SMA 100 & psychological level of 1500. At current level, any initiation of individual stocks, investors should be more careful and initiation of position should be in a smaller scale.

Immediate support is seen at 1487 level, followed by 1453 level and immediate resistance is seen at 1495 – 1500 level. I will cover Unisem tomorrow if there is confirmed buying opportunity.

AirAsia

Last Done: RM3.90

The Airasia stock may reach its peak at this level, there are 2 choices that investors can make and I will take it as a final coverage on this stock until there is a new buying signal for the stock.

1)      Investors (especially risk taker investors) can choose to run on the profit by revising the stop loss level higher to around RM3.50 level (very close to all the SMA) and just leave your position open.

2)      You can choose to take your position at this level.

Immediate support is seen at RM3.87, followed by RM3.62. Immediate resistance is seen at RM4.00, followed by year high of RM4.14.

FKLI

Waiting Patiently…

At current level, the index yet to give us any confirmation for short position initiation. Investors shall remain intraday trading by referring to the support and resistance level.  

With the overnight Dow suffering nearly 3% of downside trading, the immediate support for today is seen at 1445 level (Fibonacci level of 50%).



FCPO

Hovering Around SMA 50…

As per the chart shown, the FCPO currently is hovering around the SMA 50 level, this level can be a reference level for near term direction.

For short term trading and risk averse investors, investors can only initiate long position provided the SMA 50 level is being taken over convincingly. Immediate support is seen at 2900 level and immediate resistance is seen at 2952 level, followed by 3000 level.

31st October 2011 - Weekly Market Outlook

Summary


For detail, please click here.

	Stock	Futures
		FKLI	FCPO
Today Strategy & Stock Pick	For Risk Taker Stock: Will recommend once detect any stock that is worthwhile to accumulate.	Risk Taker: Can get ready to initiate short position when the FKLI unable to take over 1500 level convincingly. Risk Averse: Remain intraday trading.	Risk Taker: Remain short position. Risk Averse: Remain intraday trading.
	For Risk Averse Stock: -
Stop Loss	-	Risk Taker: - Risk Averse: -	Risk Taker: 2920 level       Risk Averse: -
Market Direction	KLCI: Uptrend but face with tough resistance at 1500 level.	Uptrend but shall take extra cautious at this level.	Range Trading.
Support & Resistance level	KLCI: S1: 1470 S2: 1453 R1: 1487 R2: 1500	Support: S1: 1465; S2: 1446	Support: S1: 2950; S2: 2900
		Resistance: R1: 1482; R2: 1493	Resistance: R1: 3000; R2: 3045
Initial Margin	-	RM5000	RM6000
World News	More than 60% of global consumer confidence remained weak. DJIA closed mixed on last Friday.

28th October 2011, Friday (UEM Land)

FBMKLCI

Uptrend Yet to be Confirmed

The index took over the 1453 level for the second day and with the overnight surged in DJIA, this level will able to be protected for today as well. The index will then trade in the next trading ranges (1453 – 1487 levels) and head towards 1500 level.

However, please remember that the uptrend yet to be confirmed at the moment as the index will need to create a higher low before a firm uptrend can be confirmed. Immediate support is seen at 1453 level and immediate resistance is seen at 1487 level.

UEM Land

Last Done: RM2.15

UEM Land taken over a few important resistances (SMA 50 & downtrend line) and this is giving us some opportunity to initiate position for this stock for short term trading. Stop loss level shall be set at a level slightly below RM2. Immediate support is seen at RM2, followed by recent low of RM1.55. Immediate resistance is seen at RM2.25 (Fibonacci level of 38.2%), followed by RM2.50 level.

FKLI

Long Term Trading – Higher Risk!

The FKLI is heading towards 1500 level without any weakness being detected at the moment and further uptrend is expected. However, investors are being advised not to hold too long a position in this high volatility market. At this moment, long position will be more preferred compare to short position and stop loss level can be placed around 1450 level.

Immediate support is seen at 1450 level and immediate resistance is seen at 1481 level, followed by 1500 level.

We shall have a look whether 1500 level can be a level for us to initiate short position in my next weekly market outlook.

FCPO

Strategy Remains the Same!

Nothing much to cover since the FCPO remains the same as per yesterday. I recap some of the important point covered yesterday. Investors may look into accumulating long position with the stop loss level being placed slightly below 2900 level. Immediate resistance is seen at 3000 level.

For risk averse investors, investors can choose to initiate fresh position once the FCPO taken over the 3000 level and place the stop loss level around 2850 level.

27th October 2011, Thursday

DJIA

Next Resistance – 11900 to 12000 Levels!

The Dow took over the 11600 level convincingly but faced with another level of resistance – Fibonacci level of 61.8% (11900 level), followed by the psychological level of 12000. The Dow will have an uphill task for the coming 1 week and this serve as the important reference level for now. Immediate support is seen at 11600 level.
We shall look at UEM Land for tomorrow since there are some questions on this stock.

FKLI

Confirmation for Today…

We shall have a firm confirmation by the end of today of whether the FKLI will take over the Fibonacci level of 50% (1446) convincingly. As per mentioned, if this level is being taken over convincingly, the upward trading is more convinced and the index is expected to trade within the next band (1446 – 1482 levels).
At this juncture, investors are being advised to resume intraday trading or short term trading (less than 3 days) until a clear direction being formed.

FCPO

Make a Return?

The FCPO closed above the Fibonacci level of 38.2% (2919) and stayed above the Bollinger band. Investors may look into accumulating long position with the stop loss level being placed slightly below 2900 level. Immediate resistance is seen at 3000 level.
For risk averse investors, investors can choose to initiate fresh position once the FCPO taken over the 3000 level and place the stop loss level around 2850 level.

25th October 2011, Tuesday

Announcement:
1) Bursa Malaysia will be closed for tomorrow in tandem with the celebration of Deepavali. The market will resume on Thursday (27th October 2011).
2) There are a few questions being asked by clients, I summarized 2 most important questions with the answers as per below:-
i) Why certain stock that I mentioned in the previous day report that I will cover on the next day but I did not cover at the end?
Answer: If the stock is not worthwhile to cover on the following day (cause of the changes in the market outlook of the stock itself), I will not write/ cover on the stock.
ii) Why certain day the market outlook is without any highlight (in red)?
Answer: If the market is trading in range (boring session) and nothing is important, I will not purposely highlight it (like last Friday).
iii) What time you will definitely able to have the latest update in my blog?
Answer: Any time after 745am. Normally the report will be published before 745am.

FBMKLCI

Another Chance to Challenge 1453 Level?

The FBMKLCI went up and reached 1462 level yesterday, however, the FBMKLCI closed below the important resistance level of 1453 (Fibonacci level of 50%). The index is given a second chance today since the overnight Dow gained nearly 1%. If the index yet to take over the FBMKLCI, the range trading will resume. Immediate support is seen at 1436 level (SMA 50) and the immediate resistance is seen at 1453 level, followed by 1465 level.

FKLI

Need to Sustain Above 1446 Level…

Although the futures closed above the Fibonacci level of 50% (1446), will this level being held successfully for the remaining of the week, especially with the Deepavali holiday for tomorrow? Investors can initiate intraday trading during this consolidation phase and try not to have too large a position overnight while the Dow is approaching 12000 level and we are having a day of holiday tomorrow.
Immediate support is seen at 1446 level, followed by 1435 level and the immediate resistance is seen at 1477 level.

FCPO

Turning More Positive…

Yesterday, the FCPO closed above the Bollinger middle band and tried to take over the SMA 30 (2914 level) in the near term. If the FCPO can take over the 2920 level convincingly, the upward movement is more convinced as 2920 level will be the SMA 30 coupled with the Fibonacci level of 38.2%. Thus, immediate tough resistance is at 2920 level and investors can closely monitor this level for a clearer market direction or even any new position initiation. Immediate support is seen at 2850 level.

24th October 2011, Monday – Weekly Market Outlook (AirAsia - Profit Taking)

Summary


For detail, please click here.

	Stock	Futures
		FKLI	FCPO
Today Strategy & Stock Pick	For Risk Taker Stock: Investors should look into taking profit (1st Batch) for the Airasia’s stock.	Risk Taker: Remain short term trading. Risk Averse: Remain intraday trading.	Risk Taker: Remain short position. Risk Averse: Remain intraday trading.
	For Risk Averse Stock: Investors should look into taking profit (1st Batch) for the Airasia’s stock.
Stop Loss	Revised remaining position’s stop loss level to the level that you bought your shares.	Risk Taker: - Risk Averse: -	Risk Taker: 2920 level       Risk Averse: -
Market Direction	KLCI: Uptrend, so long as 1453 level being taken over convincingly.	Uptrend, so long as 1446 being taken over convincingly.	Range trading (2800 – 2900)
Support & Resistance level	KLCI: S1: 1420 S2: 1410 R1: 1455 R2: 1487	Support: S1: 1420; S2: 1410	Support: S1: 2850; S2: 2800
		Resistance: R1: 1446; R2: 1481	Resistance: R1: 2900; R2: 2920
Initial Margin	-	RM5000	RM6000
World News	No decision has been made for Euro crisis. US senate blocked Obama’s jobs bill. GDP in US probably picked up in 3rd quarter.