8th February 2012, Wednesday (Haio)

FBMKLCI

Confirmed Uptrend?

Finally, the index reaching the important and tough resistance level – Fibonacci level of 78.6% (1536). As per mentioned, as long as this level can be taken over convincingly, the index will challenge the historical high (1597 level) without much problem, else, the index will resume its tight range trading (1500 – 1536 levels).

For the week, immediate support is seen at 1536 level, followed by 1520 level and immediate resistance is seen at 1550 level, followed by 1570 level.

Haio

Last Done: RM2.34

The stock is currently approaching the Fibonacci level of 23.6%, if this level (RM2.35) can be taken over convincingly, investors can accumulate position for short term trading with the stop loss level being placed around RM2.15 (SMA 20) and first profit taking level at RM2.60 level.

Immediate support is seen at RM2.15 level, followed by strong support level at RM2 level and immediate resistance is seen at RM2.42 level (recent high), followed by RM2.85 level.

I will cover UEMLand tomorrow.

FKLI

Accumulate Position for Short to Mid Term Trading…

As the FKLI is staying above the Fibonacci level of 78.6%, those investors that yet to accumulate position can initiate long position at this level with stop loss being set around 1528 and first profit taking level around 1548. Those who have initiated your position around the 1500 level, you can hold on to your remaining position and ride on this uptrend.

For the week, immediate support is seen at 1532 level, followed by 1520 level and immediate resistance is seen at 1550 level.

FCPO

Initiate Long Position…

Those who have initiated long position last Friday, you can hold on to your long position and those yet to initiate your position, it is worthwhile to take another risk if the 3113 (SMA 200) level being taken over. Investors can initiate long position with stop loss being set around 3090 level.

For the week, immediate support is seen at 3050 level and immediate resistance is seen at 3113 level, followed by 3122 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.