Announcement: Market will be closed starting 2nd session of today and will resume trading next Monday (12th August 2013). Please be informed that there will be no daily market outlook for the coming 4 trading days as I will be away, however, stocks and futures’ research report/ market outlook from our company will remain available for your reference. You can re-access to this site starting 14th of August 2013. Wish you Selamat Hari Raya & Happy Holiday!
Magnum
Last Done: RM3.48
Overall uptrend remains intact with the immediate tough resistance is seen at RM3.50 – RM3.70. This will be a tough level to challenge and investors who are having the stock should consider taking your first level of profit around current level.
The immediate support is seen at RM3.20, followed by RM3.00 and the immediate resistance is seen at RM3.50, followed by RM4.00.
FKLI
Range Trading of 1755 to 1795 Levels…
The FKLI is expected to resume its range trading of 1755 to 1795 level. Any level above 1795 should give us an opportunity to initiate short position with stop loss level being set around 1805 level. Not much to be expected in tandem with the long raya holiday.
The immediate support is seen at 1780, followed by 1760 and the immediate resistance is seen at 1790 level, followed by 1800 level.
FCPO
Building Base around 2215 Level…
So long as this level can be convincingly taken over, more upward trading is expected. Long position will be preferred with stop loss level being placed around 2190 level. The FCPO is expected to hover around current level ahead of the long weekend.
The immediate support is seen at 2215 level, followed by 2200 level and the immediate resistance is seen at 2250 level, followed by 2300 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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