Last Done: RM1.02
Breaking above the Fibonacci level of 23.6% and the psychological level of RM1 might indicate the near term upward trading of the stock. So long as the stock is well-supported above the RM1 level, investors can take a chance and accumulate position for short term trading (2 – 3 weeks) with stop loss level being set around RM0.90 and first profit taking level around RM1.12 level.
Immediate support is seen at RM1, followed by RM0.85 and immediate resistance is seen at RM1.15 level, followed by RM1.25.
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.
Confirmation by Today!
By the end of today, we shall have an answer on whether it is a firm breakout for the FCPO or not. Investors who have initiated position previously should hold on to your long position with stop loss level being set around 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.
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