17th January 2012, Tuesday (tA)

TA

Last Done: RM0.58

Investors who are holding the stock, not much to expect from the stock if the RM0.59 level is not being taken over convincingly. The stock will resume hovering around the Fibonacci level of 23.6% until obvious increase in volume and/ or the RM0.59 level is being taken over.

So, what should investors do? Investors can choose to dispose the stock and take those money to purchase the stocks that have more upward trading potential. Else, investors can hold on to the stock with stop loss level being set around RM0.50 level.

I will cover Brahims’ stock tomorrow.

FKLI

Worthwhile to Take a Chance…

The FKLI came back to the lower band of the range (1500 to 1532 levels) that we are eyeing, I am in the view that it is worthwhile to take a chance to initiate long position with stop loss level being set around 1490 level.

Immediate support is seen at 1500 level, followed by another strong support level at 1480 level. Immediate resistance is seen at 1520 level.

FCPO

Will the SMA 50 Able to be Supported?

It is important for the SMA 50 to be well-defended as failure for this level to be held will cause the FCPO to retreat further towards south with a reliable support level only able to be detected at 3040 level (Fibonacci level of 23.6%). Those who have initiated short position should closely monitor this level or choose to take partial profit when the FCPO approaching this level.

Immediate support is seen at 3116 level (SMA 50), followed by 3100 level and immediate resistance is seen at 3150 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.