11th January 2012, Wednesday (Nextnation)

Nextnation

Last Done: RM0.115

Overall technical landscape for the stock looks interesting as the stock has a nice breakout after 4 years of consolidation. For risk taker investors, investors might want to accumulate some position for short term trading with stop loss level being placed around RM0.075.

Immediate resistance is seen at RM0.14, successfully taken over this level will push the stock heading towards next resistance level at RM0.21. Immediate support is seen at RM0.075 level.

We will look at Kencana tomorrow since it has taken over its historical high.

FKLI

Approaching 1532 Level…

Investors should have a close monitoring on this level as taking over the level should indicate the index will have the next tough resistance level at 1600 only. Those who have initiate long position previously might want to further initiate long position with stop loss level being set around 1525 level.

Immediate support is seen at 1520 level and immediate resistance is seen at 1532 level, followed by 1550 level.

FCPO

Testing Fibonacci Level of 38.2%...

The overall technical landscape never change for the past one week as the FCPO resumes hovering around the Fibonacci level of 38.2%. As per mentioned, nothing much that investors can do as long as this level is not being taken out convincingly. Investors can only capture on intraday trading until a clear breakout is set in.

Immediate support is seen at 3200 level, followed by 3150 level and immediate resistance is seen at 3218 level, followed by 3270 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.