4th January 2012, Wednesday (MAS & Supermax)

MAS

Last Done: RM1.47

After a month of consolidation, the stock made a breakout yesterday. Investors can closely monitor this stock for today and accumulation of buy position can be done tomorrow once confirmation set in. However, investors need to closely monitor this stock and keep the stock for short term trading (a week to half a month).

Immediate support is seen at RM1.40, followed by RM1.30 and immediate resistance is seen at RM1.505.

Supermax

Last Done: RM3.96

It is worthwhile to look at this stock for short term accumulation, especially any level above RM4. The initiation of a buy position will be even more convincing if the RM4 level can be taken over. Stop loss level can be placed around RM3.60 level (SMA 200).

Immediate support is seen at RM3.60 and immediate resistance is seen at RM4, followed by RM4.40.

FKLI

Heading Towards Historical High?

I would not say “No” for the above question, we will just trade according to the market direction. As per covered in yesterday report, the upward trading is more convinced at the moment, especially when the cash took over the SMA 200 level convincingly. From now onwards, LONG position will be more preferred than SHORT position.

Immediate support is seen at 1500 level and immediate resistance is seen at 1532 level.

FCPO

More Upward Movement…

With the FCPO convincingly breakthrough the SMA 200 & Fibonacci level of 38.2%, the upward movement is more convincingly. The same goes for FCPO, LONG position is more preferable than SHORT position from now onwards. Investors can initiate long position at any level above 3220 with stop loss level being set around 3200 level.

Immediate support is seen at 3200 level, followed by 3150 level and immediate resistance is seen at 3268 level, followed by 3300 level.