Last Done: RM1.17
Downside Risk Increasing…
Overall technical landscape showed that the stock has reached its peak and downside risk is increasing. Investors who are having the stock should think of taking profit (at least your first level of profit) around current level as the immediate resistance is seen at RM1.25 (Fibonacci level of 61.8%).
The immediate support is seen at RM1.00, followed by RM0.80 and the immediate resistance is seen at RM1.25, followed by RM1.40 level.
FKLI
Slow Upside…
Upward trading is expected to resume for the remaining of the week as window dressing set in, albeit in a slower pace.
As mentioned, investors who are holding short position should take your profit and only initiate new short position for April month contract starting next week.
Volatility is expected to be high for the remaining of the trading period until the end of the GE-13.
The immediate support is seen at 1630 level, followed by 1620 and the immediate resistance is seen at 1655, followed by 1670 level.
FCPO
Trading Range – 2400 to 2600 Levels…
As mentioned, if the FCPO can leap above the long term downtrend line (blue line) and the 2475 level, the FCPO will trade into the next 200 points territory (2400 to 2600). However, not much to be expected as the trading range remains tight (200 points only).
The immediate support is seen at 2467 level, followed by 2400 and the immediate resistance is seen at 2500 level, followed by 2550 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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