Announcement:
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Last Done: RM9.71
Overall uptrend remains intact, however, the high volatility is expected to resume and this stock is more suitable for long term trading with the immediate tough resistance is seen at RM10, followed by recent high – RM10.26. Immediate support is seen at RM9.65 (SMA 20), followed by the strong and reliable support at RM9 (SMA 200).
FKLI
Heading towards 1600 Level!
Nothing much has changed since yesterday as the overall technical landscape remains positive with the index heading towards 1600 level, albeit in a slower pace.
Investors can accumulate long position with stop loss level being set around the SMA 20 level (1567) and first profit taking level being set around 1595 level.
Immediate support is seen at 1567 level (SMA 20), followed by 1550 level and immediate resistance is seen at 1600 level, followed by 1630 level.
Next Tough Barrier – 3500 Level!
If the FCPO can sustain above the Fibonacci level of 50% (3362), the FCPO will trade further towards north with tough resistance only being seen at 3500 level (Fibonacci level of 61.8% & psychological level).
Investors should resume holding on to your remaining position with stop loss level being revised higher to 3350 level.
Immediate support is seen at 3350 level, followed by 3300 level and immediate resistance is seen at 3400 level, followed by 3450 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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