Last Done: RM4.51
More Downside Moving Forward!
The stock currently is trading below the long term range trading (RM4.70 to RM6.10) and more downside is expected after the RM4.70 level is being taken out convincingly. Investors who are holding the stock should take your profit on any technical rebound.
The immediate support is seen at RM4.00, followed by RM3.70 and the immediate resistance is seen at RM4.70, followed by RM5.00 level.
FKLI
Another Opportunity to Initiate Short Position…
With the surge in overnight DJIA, the FKLI is expected to follow in tandem and trade higher. As the index is approaching the higher band of the range trading that we are eyeing (1550 to 1585 levels), this will give us another chance to initiate short position with stop loss level being set around 1593 level.
For those risk averse investors, investors are being encouraged not to take any position overnight ahead of the Greece’s general election as more volatility is expected for next week.
The immediate support is seen at 1565 level, followed by 1560 level and the immediate resistance is seen at 1585 level, followed by 1590 level.
FCPO
Last Support – 2750 Level!
Since 2915 level is being taken over, the next reliable support level can only be seen at 2750 level. No matter what, the overall technical landscape remains weak at the moment and short position remains preferred at the moment. Those who have initiated short position may want to take your first level of profit at current level before any technical rebound set in.
The immediate support is seen at 2800 level, followed by 2750 level and immediate resistance is seen at 2900 level, followed by 2925 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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