FBMKLCI
Trading Within 1453 – 1500 Levels!
The FBMKLCI will remain in the tight range trading for the week with the immediate tough resistance is seen at 1500 level (SMA 100, Fibonacci Level of 61.8% & psychological level) and immediate strong support is seen at 1450 level (SMA 20 & Fibonacci level of 50%).
However, please bear in mind that investors should not hold too large a position as the world fundamental remains weak. Investors should resume:-
1) Selling those stocks with weak fundamental.
2) Accumulate in a smaller scale for those stocks that show upward trading opportunity.
FKLI
Intraday Trading Resume…
With the index hovering around the 40 points range (1450 – 1490 levels), nothing much that investors can do except to remain intraday trading (especially for risk averse investors) or short term trading (less than 3 days trading).
The same technical landscape as per its underlying – facing with tough resistance around 1490 level (SMA 100, Fibonacci level of 61.8%) and strong support is seen at 1445 level (SMA 20 & Fibonacci level of 50%). This range should serve as a reference for any position initiation.
FCPO
Strong Resistance – Around 3035 Level!
With the immediate strong resistance is at 3035 level (MA 100 & Fibonacci level of 23.6%), investors may take a short term short position at the above mentioned level with the stop loss point being placed at 3055 level. The FCPO is expected to resume its range trading of 2900 to 3000 level, at least for the week.
For today, immediate support is seen at 2950 level and immediate resistance 3040 level.
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