26th January 2012, Thursday (UOADev)

UOADev

Last Done: RM1.55

Successfully taking over the Fibonacci level of 23.6% coupled with the increase in volume for this stock is indicating the near term upward trading. Investors can start to accumulate this stock for short term trading with the stop loss level being set around RM1.45 and first profit taking level at around RM1.70.

Immediate support is seen at RM1.50 level, followed by the SMA 20 (RM1.42) and immediate resistance is seen at RM1.72 level (Fibonacci level of 38.2%), followed by RM1.88.

FKLI

Taking Over 1532 Level Convincingly?

As overnight Dow closed in positive territory, this will give the necessary strength for the FKLI to take over the 1532 level. However, as the underlying is at a discount of nearly 10 points to the FKLI, the FKLI may need more strength to stay above this level.

Investors can get ready to initiate long position if the above level is convincingly being taken over.

Immediate support is seen at 1520 level, followed by 1510 level and immediate resistance is seen at 1532 level, followed by 1550 level.

FCPO

Within the 100 Points Range…

The FCPO is expected to resume its 100 points’ range trading with the immediate resistance is seen at 3218 level (Fibonacci level of 38.2%). Nothing much that investor can do except to initiate short position when the FCPO approaching the above level and initiate long position when the FCPO approaching the SMA 50 level (3125 level).

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.