6th November, Tuesday (dialog)

Dialog

Last Done: RM2.44

The stock has been hovering within RM2.30 to RM2.50 levels for the past 5 months and this is expected to resume. Provided either of the above mentioned level can be taken out convincingly, else, not much to be expected from the stock. Overall uptrend remains intact at the moment with the stock staying above the SMA 200 (RM2.35).

The immediate support is seen at RM2.30, followed by RM2.10 and the immediate resistance is seen at RM2.60, followed by RM3.00 level.

FKLI

Range Trading – 1640 to 1670!

As mentioned, if the 1670 level not manages to be supported, the index is expected to hover around the 1640 level to 1670 level. At current stage, the mid to long term uptrend remains intact with the next reliable support level is seen at 1633 level as both the uptrend line and SMA 100 being located. Investors can capture on the range trading opportunity by initiating long position when the index approach 1640 level and initiating short position when the index approach 1670 level.

The immediate support is seen at 1640 level, followed by 1633 level and the immediate resistance is seen at 1650 level, followed by 1660 level.

FCPO

Downward Pressure?

The FCPO opened a gap lower, trading way below the SMA 30, may this be the indication that the FCPO will resume its downward trading? It is too early to make a firm confirmation at this juncture, however, overall uptrend definitely being affected at the moment, especially dropping being its important support level – 2500 (psychological level, SMA 20 & SMA 30).

For risk taker investors, investors can initiate short position with the stop loss level being set around 2500 level.

The immediate support is seen at 2400 level, followed by 2300 level and the immediate resistance is seen at 2500 level, followed by 2600 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.