2nd February 2012, Thursday (pChem)

Petronas Chemical

Last Done: RM6.67

For those investors who owned this stock, provided the RM6.70 level (Fibonacci level of 61.8%) can be taken over convincingly, else, we will see the stock stuck in the tight range trading of RM6.50 (SMA 200) to RM6.70. Overall uptrend remains intact and investors can hold on to your position.

Immediate support is seen at RM6.50 level, followed by RM6.40 level and immediate resistance is seen at RM6.70 level, followed by RM7.00 level.

FKLI

Sustaining Above SMA 20 – Long Position?

The FKLI came back to the middle band of the range trading that we are eyeing for the past 1 month (1500 – 1535 levels). For those who have accumulated position on Tuesday, just take your first level of profit when the market opened higher today, especially any level above the 1520.

Immediate support is seen at 1510 level and immediate resistance is seen at 1520 level (SMA 20), followed by 1532 level (Fibonacci level of 78.6%).

FCPO

Staged a Rebound at Fibonacci level of 23.6%?

The FCPO may find its strong support level at Fibonacci level of 23.6%, at least for now and this may serve as a good reference level for investors to accumulate any fresh position. So long as the FCPO can regain its posture above the SMA 200 level (3117), the uptrend remains intact and investors can accumulate long position above this level with stop loss being placed around 3090 level.

Immediate support is seen at 3050 level and immediate resistance is seen at 3117 level, followed by 3130 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.