FBMKLCI
Uptrend Started?
There are some signals that the index may stage a rebound at this level with the index testing to take over the Bollinger middle band and the Fibonacci level of 38.2%. However, I am still cautious at this moment until the index successfully taking over the Bollinger middle band. We shall have a firm confirmation by next weekly market outlook.
What should investors do at this moment? Accumulate stocks? Yes, if certain stocks do show turning sign as well. We shall have a look when those stocks have such opportunity. Overall market remain downtrend, however, I am ready to change my view so long as the index takes over the Bollinger middle band couple with the widening of the Bollinger upper and lower band.
Current stage, the immediate resistance is seen at 1400 level, followed by 1420 level and the support is seen at 1377 level.
FKLI
Go Long?
The answer for the above is “provided the FKLI taken over the 1410 level convincingly.” Investors can take a long position only if the FKLI successfully taking over 1410 level. Those risk takers investors shall take a look and change your strategy accordingly. I shall have a detail and confirmed answer two days from now.
Immediate support is seen at 1400 level and immediate resistance is seen at 1410 level, followed by 1425 level.
FCPO
Consolidation Around 2800 Level!
The FCPO still search for its foot to sustain above 2800 level. The FCPO will remain in consolidation phase after recent sharp dropped. The overall technical landscape never changes and investors can refer to yesterday’s report for detail. Immediate support is seen at 2750 level and the immediate resistance is seen at 2850 level.
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