6th January 2012, Friday (Gamuda)

Gamuda

Last Done: RM3.45

So long as the stock breaks through the RM3.45 level convincingly, investors still can accumulate this stock for short term trading (1 – 2 months) with stop loss level being set around RM3.30 level.

Immediate support is seen at RM3.30 level, followed by RM3.15 level and immediate resistance is seen at RM3.70 level.

We shall look at MISC stock on next Monday.

FKLI

Reliable Support Level – 1500 Level…

1500 level remains formidable at the moment as this will be the reliable support level for both the underlying and the futures. Immediate tough resistance is seen at 1532 level. The index is expected to hover within the above mentioned levels (1500 – 1532 levels).

Immediate support is seen at 1510 level and immediate resistance is seen at 1522 level.

FCPO

Downward Movement?

Since the FCPO attempted to take over the recent high and unsuccessful, the FCPO has the tendency to move towards south with the strong support level only being seen at 3130 level (SMA 200). Investors will need to closely monitor the Fibonacci level of 38.2% (3217 level) as taking over this level will indicate a positive move towards the near term market and vice versa.

Immediate support is seen at 3150 level, followed by 3130 level and immediate resistance is seen at 3217 level, followed by 3250 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.