Last Done: RM3.58
If the stock able to take over RM3.65 level, more upside is expected and risk taker investors can accumulate position for short term trading with first profit taking level being set around RM3.85 level and stop loss level being set around RM3.40 level.
The immediate support is seen at RM3.25, followed by RM3.00 level and the immediate resistance is seen at RM3.65, followed by RM4.00 level.
FKLI
Sustaining at this Level?
Prediction should not be our task, we should plan accordingly by setting the necessary stop loss level to protect our position. The FKLI is at its juncture at the moment, any position initiation should couple with tight stop loss level. At the moment, short position remains preferred, especially any level above 1600.
The immediate support is seen at 1580 level, followed by 1570 level and the immediate resistance is seen at 1600 level, followed by 1606 level.
Overall Technical Landscape Remains Weak!
Nothing has changed since yesterday as the rebound is still being perceived as technical rebound and it may be for short term only. Provided the FCPO can regain its posture above the 3050 level (Fibonacci level of 23.6%), then the rebound will be firmer. Short position will be preferred if the FCPO approaching 3000 level.
The immediate support is seen at 2850 level, followed by 2800 level and immediate resistance is seen at 2950 level, followed by 3000 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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