Last Done: RM3.63
The stock has been consolidated for the past one month and there is certain signal showing that the stock might start to make a move from now onwards. Investors can accumulate some position for short term trading if the current level (RM3.63) can be held with stop loss level being set around RM3.50 and first profit taking level being set around RM3.90 level.
Immediate support is seen at RM3.50, followed by RM3.40 (strong and reliable support level) and immediate resistance is seen at RM3.90, followed by RM4.00.
FKLI
As mentioned, the index will head towards the 1600 level and is expected to trade above the 1600 level. Thus, I will remain my call of buying into any weakness with stop loss level being set around 1585 level.
The immediate support is seen at 1582 level (SMA 30), followed by 1570 level (SMA 50) and the immediate resistance is seen at 1600 level, followed by 1610 level.
Opportunity to Initiate Short Position?
This might be the time for us to initiate short position already as the FCPO showing temporal toppish and weakness started to be detected. However, I reiterate, any short position initiation should be for short term as the overall uptrend remains intact. Stop loss level can be set around 3600 level with first profit taking level being set around 3490 level.
Immediate support is seen at 3550 level, followed by 3500 level and immediate resistance is seen at 3650 level, followed by 3700 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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