Last Done: RM2.45
This stock is expected to hover within the tight range of RM2.40 (Fibonacci level of 38.2%) to RM2.50 (SMA 200). Provided either of the above mentioned levels can be taken out convincingly, else, nothing much to be expected from the stock.
The stock will need to garner enough of strength to take over the tough resistance level – SMA 200 & Fibonacci level of 50%, thus, investors who are having the stock should think of taking your first profit taking level around RM2.50 level.
The immediate support is seen at RM2.40 level, followed by RM2.00 level and the immediate resistance is seen at RM2.50 level, followed by RM2.65 level.
FKLI
The FKLI will resume its range trading of 1620 to 1650 levels. Nothing much that investor can do except to capture on the range trading (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1650 level). We will only revisit our strategy provided the above mentioned level being taken out convincingly.
Heading towards Tough Resistance – SMA 200!
The immediate tough resistance for the FCPO is located at the SMA 200 only (3165 level), thus, taking over the SMA 20 will indicate more upside for the FCPO. Investors can initiate long position with stop loss level being set around Fibonacci level of 23.6% (3040).
The immediate support is seen at 3040 level, followed by 3000 level and immediate resistance is seen at 3100 level, followed by 3160 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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