Last Done: RM7.13
The uptrend for the stock remains intact with the stock price staying above the Bollinger middle band coupled with the widening in the upper and lower band. However, the immediate tough resistance level will be at RM7.40. Provided the above level can be taken over, else, we shall see the stock to hover around RM7.00 to RM7.40 level.
The immediate support is seen at RM7.00 level, followed by RM6.50 level and the immediate resistance is seen at RM7.50, followed by RM8.00 level.
FKLI
Taking over 1655 level convincingly will result in further upside for the index, especially with the widening in the upper and lower band. The next target will be at 1700 level, albeit in a slower pace. Any new position initiation should take the 1655 level as a reference level.
The immediate support is seen at 1655 level, followed by 1650 level and the immediate resistance is seen at 1670 level, followed by 1680 level.
FCPO
Fundamental Remains Weak…
The technical rebound for the FCPO is expected to resume, 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 as the fundamentally, the FCPO remains weak.
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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