Hi, Dear All Investors,
Happy New Year! Hope you have done your resolution for 2012, especially in investment. For this site, I will make some adjustments starting next Monday (9th January 2012). All the details will be announced before the end of the week.
FBMKLCI
Positive Start for the Year!
The FBMKLCI closed more than 20 points higher at the 11-hour on last Friday, making the index trading above the SMA 200 (1501 level). So long as this level is well-defended, the index will resume its upwards trading and more positive market is expected ahead.
We shall have the confirmation by the end of today and investors can start to look into some of the stocks for short term accumulation. For the week, immediate support is seen at 1501 level and immediate resistance is seen at 1535 level, followed by 1550 level.
I will cover some of the stocks for short term accumulation tomorrow.
FKLI
Skew towards North…
The FKLI is expected to remain its upward trading with the immediate strong support is seen at 1500 level. Any weakness towards 1500 level is worthwhile for investors to take a chance and initiate long position with the stop loss level being set at 1490 level.
For the week, the immediate support is seen at 1480 level and immediate resistance is seen at 1532 level.
FCPO
Hovering Around SMA 200 Level…
The FCPO is expected to hover around the SMA 200 level (3132) until a clear breakthrough of this level is confirmed, else, the FCPO will remain in a tight range trading of 3150 to 3220 levels. Investors can initiate long position if 3220 level is being taken over successfully with the stop loss level being set around 3200 level.
For the week, the immediate support is seen at 3132 level, followed by 3100 level and immediate resistance is seen at 3220 level, followed by 3250 level.
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