30th November, Friday (Pos Malaysia)

Pos Malaysia

Last Done: RM3.12

The overall technical landscape for the stock started to show more positive move moving forward as the stock is currently trading above the Bollinger middle band while the upper and lower band is widening. Besides, the RM3.00 becomes the immediate reliable support level as this is where the SMA 100 & psychological level being located. Any new position initiation can take the above mentioned level as a reference level.

The immediate support is seen at RM3.00, followed by RM2.60 and the immediate resistance is seen at RM3.40, followed by RM3.90.

FKLI

1600 – Remains as Reliable Support Level…

I am still in the view that it is worthwhile to take a risk and initiate long position at current level, however, stop loss level definitely need to be in placed as well as no one will able to predict the market and we should trade following the market direction. Any position initiation can set your stop loss level around 1600 level.

The immediate support is seen at 1600 level, followed by 1590 level and the immediate resistance is seen at 1620 level, followed by 1630 level.

FCPO

Range Trading Resume…

We should see the FCPO to resume its range trading of 2250 to 2450 levels. Provided the SMA 30 (2460) is being taken out convincingly, then only we will see the FCPO to trade into the next range of 2450 to 2650 level.

Above mentioned bands can be taken as a good reference level for any position initiation with tight stop loss being placed around the mentioned level (initiate short position when the FCPO approaching 2450 level; accumulate long position when the FCPO approaching 2250 level).

The immediate support is seen at 2350 level, followed by 2300 level and the immediate resistance is seen at 2400 level, 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.