20th February 2012, Monday (Keuro)

FBMKLCI

Firmer Upside albeit in a Slower Pace!

Since last covered, the index’s overall technical landscape remains the same – sustaining firmly above the Fibonacci level of 78.6% (1535 level) and heading towards historical high in a slower pace. Nothing much can be expected except to wait patiently for the index to move towards the historical high.

Immediate support is seen at 1550 level, followed by 1535 level and immediate resistance is seen at 1570 level, followed by 1600 level.

Keuro

Last Done: RM1.28

If the stock managed to regain its posture above the RM1.30 level (SMA 20, SMA 30 & Fibonacci level of 50%), it is worthwhile for investors to accumulate this stock for short term trading with stop loss level being placed around RM1.18 and first profit taking level around RM1.38.

Immediate support is seen at RM1.20, followed by strong support level at RM1.10 and immediate resistance is seen at RM1.38 level, followed by RM1.60.

FKLI

Further Consolidation…

The FKLI is expected to resume its tight range trading and garner the necessary power to break above the 1600 level. During this period of time, investors can just capture the range trading opportunity or accumulate long position when the index traded below 1550 level.

Immediate support is seen at 1550 level, followed by 1532 level and immediate resistance is seen at 1570 level, followed by 1600 level.

FCPO

Breakout?!

The FCPO finally taking over both the levels that we have waited for the past 3 months, so, what will be the next tough resistance that FCPO will need to take over? The answer definitely will be the Recent High (3270 level).

Investors who have initiated position previously should hold on to your long position by revising upward your stop loss level to 3200 level and those who have waited to initiate fresh position can accumulate long position if the 3270 level is being taken over convincingly with stop loss level being set around 3250 level.

Immediate support is seen at 3220 level, followed by 3200 level and immediate resistance is seen at 3270 level, followed by 3300 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.