24th October 2011, Monday – Weekly Market Outlook (AirAsia - Profit Taking)

Summary


For detail, please click here.

	Stock	Futures
		FKLI	FCPO
Today Strategy & Stock Pick	For Risk Taker Stock: Investors should look into taking profit (1st Batch) for the Airasia’s stock.	Risk Taker: Remain short term trading. Risk Averse: Remain intraday trading.	Risk Taker: Remain short position. Risk Averse: Remain intraday trading.
	For Risk Averse Stock: Investors should look into taking profit (1st Batch) for the Airasia’s stock.
Stop Loss	Revised remaining position’s stop loss level to the level that you bought your shares.	Risk Taker: - Risk Averse: -	Risk Taker: 2920 level       Risk Averse: -
Market Direction	KLCI: Uptrend, so long as 1453 level being taken over convincingly.	Uptrend, so long as 1446 being taken over convincingly.	Range trading (2800 – 2900)
Support & Resistance level	KLCI: S1: 1420 S2: 1410 R1: 1455 R2: 1487	Support: S1: 1420; S2: 1410	Support: S1: 2850; S2: 2800
		Resistance: R1: 1446; R2: 1481	Resistance: R1: 2900; R2: 2920
Initial Margin	-	RM5000	RM6000
World News	No decision has been made for Euro crisis. US senate blocked Obama’s jobs bill. GDP in US probably picked up in 3rd quarter.