This might be the starting of the uptrend for this stock as the stock is staying above the Bollinger middle band coupled with the widening of the upper and lower band. Investors can take a chance by accumulating position for short term trading with stop loss level being set around RM2 and first profit taking level being set around RM2.35 level.
Immediate support is seen at RM2, followed by RM1.90 level and immediate resistance is seen at RM2.35, followed by RM2.50.
FKLI
Any retracement, especially near to the Fibonacci level of 78.6% (1532 level) is worthwhile for investors to accumulate long position with stop loss level being set around 1525 level.
For the week, immediate support is seen at 1550 level, followed by 1532 level and immediate resistance is seen at 1570 level, followed by 1600 level.
Supporting Above SMA 200…
The FCPO is expected to support above the SMA 200 (3111) & SMA 50 (3118). Investors, especially risk taker investors can take a chance to accumulate position if the FCPO traded near to the 3110 level (SMA 50 & SMA 200) with stop loss level being placed around 3090 level.
For the week, immediate support is seen at 3120 level, followed by 3100 level and immediate resistance is seen at 3200 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.
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