18th January 2012, Wednesday (Unisem & brahims)

brahims

Last Done: RM0.715

Promised to cover Brahims today, however, the stock has moved up more than 15% yesterday and trading near to the fair value of the stock. Although the technical still looks interesting, (especially when the stock managed to sustain above the RM0.70 level) the risk is increasing if I am still calling for a buy on this stock. Investors who have bought the stock previously should take your partial profit at this level (any level above RM0.70) and let the remaining position ride on the uptrend.

Immediate support is seen at RM0.70 level and immediate resistance is seen at RM0.82 level.

Unisem

Last Done: RM1.29

The stock showed a breakout yesterday by taking over the Fibonacci level of 23.6% (RM1.25) and the recent high (RM1.28). Besides, this breakout did couple with the increasing in volume that we are looking at. So long as this level is well-defended, investors can accumulate position for short term trading with stop loss being set around RM1.20 level and first profit taking level should be set around RM1.40 level.

Immediate support is seen at RM1.25 level, followed by RM1.20 and immediate resistance is seen at RM1.39 level (SMA 200), followed by RM1.42 level (Fibonacci 38.2%).

I will cover E & O stock tomorrow.

FKLI

Closer to 1532 Level…

As mentioned, nothing much that investor can do except to remain intraday trading so long as 1500 level or 1532 level is not being taken out convincingly. Investor will need to wait patient or just invest in stocks for the time being.

Immediate support is seen at 1510 level, followed by 1500 level. Immediate resistance is seen at 1520 level.

FCPO

SMA 50 – Well-defended…

The FCPO rebounded when its prices approached the SMA 50 and am in the view that this level should be a reliable support level. The FCPO is expected to fall into a 100 points range trading (3220 to 3120 level) moving forward until either of this direction is being taken out convincingly. Investors should monitor for another day before initiate any long term position. Else, intraday traders should take the above level as a reference level for long/ short position’s initiation.

Immediate support is seen at 3116 level (SMA 50), followed by 3100 level and immediate resistance is seen at 3200 level, followed by 3218 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.