Last Done: RM1.58
More upside is expected if the stock can sustain above the important level – Fibonacci level of 61.8% (RM1.55) as this is the level being tested for the past 4 months.
Investors can accumulate position for short term trading with stop loss level being set around RM1.50 level and first profit taking level being set around RM1.66.
Immediate support is seen at RM1.48, followed by RM1.42 and immediate resistance is seen at RM1.64 level, followed by RM1.75.
FKLI
Lower Band of the Range…
Nothing much has changed since yesterday as the FKLI is currently trading at its lower band of the range trading. Investors can just capture the range trading opportunity or accumulate long position when the index traded below 1550 level with stop loss level being placed around 1540 level.
Immediate support is seen at 1550 level, followed by 1532 level and immediate resistance is seen at 1570 level, followed by 1600 level.
Heading Towards Fibonacci Level of 50%!
The FCPO created a concrete base at Fibonacci level of 38.2% and heading towards the Fibonacci level of 50% (3361 level). Investors who have initiated position previously should hold on to your long position with stop loss level being revised higher to 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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