Last Done: RM1.91
Overall uptrend remains intact with the price breaking above the Fibonacci level of 23.6% and the widening in the upper and the lower band. Risk taker investors can initiate your position at current level with first profit taking level around RM2.10 and stop loss level being set around RM1.70 level; for risk averse investors, investors should only accumulate position on any retracement as the stock currently is trading into overbought territory.
The immediate support is seen at RM1.70, followed by RM1.50 level and the immediate resistance is seen at RM2.10, followed by RM2.50 level.
FKLI
Nothing much that investors can do besides waiting patiently for the 1615 level being taken over convincingly. As mentioned, provided the recent high can be taken over convincingly, else, we will see the index to hover within the 1600 to 1615 levels. We are ready to change our strategy so long as the above mentioned level is being taken over convincingly.
The immediate support is seen at 1600 level, followed by 1580 level and immediate resistance is seen at 1615 level, followed by 1630 level.
FCPO
Tough ResistanceS…
The next tough resistance is located at the SMA 200 (3150 level), those investors who have initiated long position previously should consider to take your first level of profit when the FCPO approaching 3150 level. If the 3150 level can be supported, we will see the next tough resistance level at 3220 level (Fibonacci level of 38.2%).
The immediate support is seen at 3040 level, followed by 3000 level and immediate resistance is seen at 3150 level, followed by 3220 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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