Last Done: RM1.69
The stock is having an immediate strong support at RM1.50 (SMA 200 & Fibonacci level of 61.8%). Thus, any new position initiation should take this level as a reference. The stock is expected to resume its huge volatility and the immediate resistance will be allocated at RM1.90 to RM2.00 level.
The immediate support is seen at RM1.50 level, followed by RM1.35 level and the immediate resistance is seen at RM2.00, followed by RM2.50 level.
FKLI
Range of 1655 to 1620 Level!
The FKLI is expected to resume its range trading of 1620 to 1655 levels, at least for the week. 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 1655 level with stop loss level being set around 6 points away). We will only revisit our strategy provided the above mentioned level being taken out convincingly.
The immediate support is seen at 1640 level, followed by 1630 level and the immediate resistance is seen at 1660 level, followed by 1670 level.
FCPO
Technical Rebound…
As mentioned, the FCPO is expected to have some technical rebound, thus, any technical rebound should serve as a good level for those who are having long position to cut your losses or take your profit as the downward trading is expected to resume. Short position is more preferred at the moment with stop loss level being set around 2500 level.
The immediate support is seen at 2265 level, followed by 2200 level and the immediate resistance is seen at 2400, followed by 2450 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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