9th February 2012, Thursday (UEM Land)

UEM Land

Last Done: RM2.34

I find this stock interesting because the Bollinger upper and lower band is very narrow at this moment, what can it be further? Although the stock has been in a tight trading range for the past 3 months, at this juncture, the probability of the stock to stay above the Bollinger middle band coupled with the widening in the upper and lower band is high.

Investors should closely monitor the stock and for risk taker investors, investors can accumulate this stock for short term trading at current level with stop loss being set around RM2.25 level and first profit taking level at RM2.45 level.

Immediate support is seen at RM2.30 level, followed by RM2.25 level and immediate resistance is seen at RM2.46 level, followed by RM2.70 level.

FKLI

On Its Way towards Historical High!

As mentioned, so long as the index can sustain above the Fibonacci level of 78.6% (1532), not much challenge for the index to move forward and it might reach the historical high (1597 level) without much problem. The firm uptrend is expected to continue, at least for now.

Investors can hold on to your position and ride on this uptrend. Immediate support is seen at 1550 level, followed by 1536 level and immediate resistance is seen at 1570 level.

FCPO

Upward Trading…

Those who have initiated long position, first profit taking level should be around current level and the remaining position should be kept for riding on this uptrend. For those who have missed the opportunity to accumulate position on last Friday and yesterday, this may give you another chance to initiate a long position (should be in a smaller scale). If the FCPO can stay above the current level (3155) convincingly, investors can initiate long position with stop loss level being set around 3120.

Immediate support is seen at 3120 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.