Last Done: RM1.46
The stock rebounded strongly from the SMA 200 and breaking above the Fibonacci level of 23.6% coupled with the volume. Investors can take a chance by accumulating position for short term trading with stop loss level being set around RM1.35 and first profit taking level being set around RM1.58.
Immediate support is seen at RM1.30 level, followed by RM1.20 and immediate resistance is seen at RM1.60 level, followed by RM1.80 level.
FKLI
Approaching 1600 Level…
With the strong closed in overnight DJIA, our FKLI will be heading closer to 1600 level. Investors will just need to wait patiently and take your first level of profit when the FKLI approaches the 1595 level. Remaining position should ride on the uptrend, especially if the 1600 level being taken over convincingly.
The immediate support is seen at 1580 level, followed by 1575 level (SMA 20) and the immediate resistance is seen at 1600 level, followed by 1610 level.
Heading towards Next Tough Resistance Level – 3500!
Without much challenge, the FCPO will move towards north and challenge the next tough resistance level – 3500 level. Investors may want to take part of your profit during the day as the uptrend is expected to resume at the opening.
The immediate support is seen at 3400 level, followed by 3350 level and immediate resistance is seen at 3500 level, followed by 3550 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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