Last Done: RM1.32
The downward trading might not end yet, however, it shows us some opportunity to accumulate the stock for short term trading, especially if the stock traded near to SMA 50 (RM1.26). Stop loss level can be placed around RM1.10 and first profit taking level can be placed around RM1.45.
Immediate support is seen at RM1.26, followed by RM1.10 and immediate resistance is seen at RM1.45 level, followed by RM1.75.
FKLI
We are still eyeing the FKLI to move towards the historical high, albeit in a slower pace. Any weakness should give investors the opportunity to accumulate long position with stop loss level being set around 1550 level.
Immediate support is seen at 1550 level, followed by 1532 level and immediate resistance is seen at 1580 level, followed by 1600 level.
Trading Within the Range of 3250 – 3300!
The FCPO is going to trade within the range of 3250 to 3300 level and this should be taken positively as this kind of consolidation will give the necessary support to the prices.
Investors who have initiated position previously can take your first level of profit at current level and the remaining position’s stop loss level should be placed around 3250 level.
Immediate support is seen at 3250 level, followed by 3220 level and immediate resistance is seen at 3300 level, followed by 3350 level.
Disclaimer:
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.
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