25th September, Tuesday (genting Malaysia)

Genting Malaysia

Last Done: RM3.40

Not much to expect from the stock as the stock will resume its range trading of RM3.30 to RM3.75. The RM3.20 level is an important support level for the stock, failure for this level to be held will cause the stock to suffer further major retracement. Investors who are having the stock can take the above mentioned level as a reference level for any profit taking.

The immediate support is seen at RM3.20, followed by RM3.00 and the immediate resistance is seen at RM3.50, followed by tough resistance at RM3.70 (SMA 200).

FKLI

Reliable Support – 1600 Level!

We are still in the view that the 1600 will be a reliable support level, at least for now. This should serve as a good reference level for any new position initiation and cut loss level. The 1600 is considered as a strong support level as it is the psychological level, the uptrend line (green line) and the SMA 100 level.

Thus, any drop near to 1600 level is worthwhile for investors to take a risk and initiate long position with stop loss level being set around 1590, especially ahead of the budget announcement.

The immediate support is seen at 1600 level, followed by 1580 level and the immediate resistance is seen at 1620 level, followed by 1640 level.

FCPO

Starting of the Free Fall?

The FCPO will need to regain its posture above the 2670 level, else, we might see the free fall for the stock and the more reliable support levels are only being seen at 2470 level, followed by 2270 level. We should have the confirmation by the end of the day and investors should take it as a reference level for any position initiation and placing of stop loss level.

Overall trend remains downward trading, thus, any long position initiation for risk taker investors should keep your stop loss tight.

The immediate support is seen at 2600 level, followed by 2550 level and the immediate resistance is seen at 2700, followed by 2750 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.