Announcement:-
1) Sorry to say that the registration for this Saturday class has been closed as it is fully taken up. Please do not send me an email for further registration. Next class will be conducted in May 2012 but charges will be different. Please do not bank in and inform us later as the classroom will not able to accommodate for further registration. Thank you.
2) There are 2 articles covering the Near Term Market Outlook, the Important Points to Take Note on Futures & the Benefit of Online Trading. Please select the “Press Coverage” tab (above) for further detail.
FBMKLCI
Cautious, Sign of Weakness!
The SMA 20 started to show some downside symptom and the immediate important support is seen at 1467 level – SMA 20. Investors should closely monitor this important reference level as individual stock may be affected by the downward trading in FBMKLCI. Immediate resistance is seen at 1487 level (Fibonacci level of 61.8%).
I shall cover on CIMB stock tomorrow as the stock started to show some weakness.
FKLI
Ready to Take Short Position…
If the FKLI dropped below the SMA 20 – 1462 level convincingly, investors (especially risk taker investors) can initiate short position and take the 1st batch of profit around 1450 level and the remaining contracts can ride on the profit if it manages to break below the 1450 level convincingly. Stop loss order should be placed around 1472 level.
FCPO
Eyeing for Short Position – Especially Any Level Above 3225!
Overnight Soyoil gained nearly 2% and this should serve as a catalyst for our FCPO to leap above 3200 level. At current level, it is approaching the resistance level that we are looking at – 3225 level, so, what should investor do? Investors can initiate short position if the FCPO unable to sustain above the 3225 level and stop loss order should be placed around 3250 level.
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