MayBank
Overall Uptrend Remains Intact…
The overall uptrend for the stock remains intact as the stock staying firmly above all its moving averages. The immediate strong support is at RM10 (SMA 50). If this level is not able to be supported, the next reliable support will be seen at RM9.50 only.
The immediate resistance is seen at RM10.50, followed by RM11.00 level and the immediate support is seen at RM
FKLI
Hovering around the SMA 20…
As mentioned, the FKLI has been traded within the 1750 to 1790 range for the past 1 month, any drop below/ above the range mentioned above might cause a strong trend towards respective direction.
Investors who are holding long position will need to take extra cautious as this might be the start of the downward trading, especially when the index has been trading below the SMA 20 (1770) for the past 3 days.
The FKLI might at least close the gap set after the GE13 (1720 – 1700) before any technical rebound can set in.
The immediate support is seen at 1760 level, followed by 1750 level and the immediate resistance is seen at 1780 level, followed by 1790 level.
FCPO
Hovering around SMA 200…
The FCPO is facing with its tough resistance at SMA 200 (2480 to 2500 Levels). Investors should expect further tight range trading (within 200 points) for the coming few months until the SMA 200 is being taken over convincingly. Even taking over the 2500 level, the FCPO will face with its final tough hurdle at 2600 level (Fibonacci level of 23.6%). Provided both these levels can be taken over convincingly, more upside is expected.
The immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2450 level, followed by 2500 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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