Boustead
As long as the stock can trade above the RM5.52 (Fibonacci level of 78.6%), the stock is expected to move further towards north. Besides, there is a tendency that the upper and lower band will be widened. Any position accumulation can set the stop loss level around RM5.30 level with first profit taking level being set at RM5.75 level.
Immediate support is seen at RM5.50 (SMA 20, SMA 30 & SMA 50), followed by RM5.30 and immediate resistance is seen at RM5.55, followed by RM5.90 level.
FKLI
With the strong closed in Dow yesterday, the FKLI is expected to grab the opportunity and leap above the 1600 level. Staying above this level will indicate more upside moving forward, thus, will remain my view that any weakness should serve as an opportunity to accumulate long position with stop loss level being set around 1584 level.
The immediate support is seen at 1584 level (SMA 30), followed by 1570 level (SMA 50) and the immediate resistance is seen at 1600 level, followed by 1620 level.
Reliable and Strong Support – 3500 Level!
As 3500 – 3505 levels are having the SMA 20, Fibonacci level of 61.8% and psychological level, this is an important level for us to look at. I will remain my view that any level near to/ below 3500 should serve as a good level to accumulate long position with stop loss level being set around 3470 level.
The immediate support is seen at 3485 level (SMA 20), followed by 3450 level and immediate resistance is seen at 3505 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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