7th May, Tuesday (Overall Strategies)

FBMKLCI

Let the Dust Settle Down…

Investors should not rush into the market even with BN won a simple majority as further downside may resume. Please be patient and stay on the sideline until a clearer direction for the market is being shown. However, investors can initiate long term trading position on any weakness.

For the week, the immediate support is seen at 1730, followed by 1720 and the immediate resistance is seen at 1760 level, followed by 1780 level.

FKLI

Uncertainty…

The market is expected to resume its huge volatility for these 2 weeks and the political front remains uncertainty at this moment.

Risk averse investors should not hold any position for overnight, however, risk taker investors can initiate short position, especially any level near to 1800 with stop loss level around 1820 level.

The immediate support is seen at 1750, followed by 1720 level and the immediate resistance is seen at 1770, followed by 1780 level.

FCPO

Immediate Important Support – 2200 Level…

The downtrend line currently located at the 2260 level, forcing the FCPO to trade within the range of 2300 to 2200 levels. The FCPO will need to take over the 2300 level convincingly, else, the long term downward trading will resume. 2200 level remains as a level to initiate long position with stop loss level being 20 points away.

The immediate important support is seen at 2215 level, followed by 2200 and the immediate resistance is seen at 2300 level, followed by 2400 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.