31st July, Tuesday (bursa)

Bursa

Last Done: RM6.51

Immediate Tough Resistance Level – SMA 200 & Fibonacci Level of 38.2%!

The stock is facing with an uphill task, thus, any position bought recently should consider taking your first level of profit around this level. Provided the above mentioned level (RM6.70) can be taken out convincingly, else, we will see the stock to trade within the range of RM6.30 to RM6.70.

The immediate support is seen at RM6.30 level, followed by RM6.00 and the immediate resistance is seen at RM6.70, followed by RM7.00.

FKLI

Range Trading to Resume – 1650 to 1620 Levels!

Nothing has changed since yesterday and further range trading is expected. Nothing much can be expected as the index will trade in a tight range trading (within 1620 to 1650 levels), investors can take the above levels as a reference level for any fresh position initiation (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1650 level).

FCPO

3050 Level – Remains Tough at the Moment!

3050 level remains tough for the FCPO, at least for now. Provided this level can be taken over convincingly, else, recent rebound can only be considered as technical rebound. At the moment, the FCPO is expected to remain in the range trading of 2850 to 3050 levels.

Any fresh position initiation should take the above mentioned level as a reference level (long when the FCPO approaches 2850 level and short when the FCPO approaches 3050 level).

The immediate support is seen at 2850 level, followed by 2750 level and immediate resistance is seen at 3050 level, followed by 3100 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.