Announcement: Please be informed that the exchange will be closed tomorrow in tandem with the Hari Raya Qurban’s celebration. Trading will be resumed on next Monday (29th October 2012).
Last Done: RM3.28
Overall uptrend for the stock remains intact with the immediate strong support is seen at RM3.20 level (the base built for the past one month). Any new position initiation can take the above mentioned level as a reference price.
The immediate support is seen at RM3.20 level, followed by RM3.00 level and the immediate resistance is seen at RM3.50 level, followed by RM3.70 level.
Heading towards 1700 Level?
As mentioned, if the FKLI managed to take over the 1670 level convincingly, we should see the index to head towards 1700 level, albeit in a slower pace. However, if the 1670 level not manage to be supported, the index is expected to hover around the 1640 level to 1670 level. The reliable support level has been revised higher to 1620 (from 1600 level) as both the uptrend line and SMA 100 level being located.
The immediate strong support is seen at 1640 level (SMA 20 & SMA 50), followed by 1630 level and the immediate resistance is seen at 1680 level, followed by 1690 level.
FCPO
Immediate Resistance – SMA 30!
The immediate resistance is seen at 2578 level (SMA 30) to 2640 level (Fibonacci level of 23.6%), if the mentioned level can be taken out, the FCPO will be heading towards 2900 level. Those who have initiated long position previously can take your first profit taking level around RM2600 level with stop loss being revised higher to 2500 level. Current level, long position will be preferred.
The immediate support is seen at 2500 level, followed by 2450 level and the immediate resistance is seen at 2600 level, followed by 2640 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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