Airasia
There are a few queries on this stock as investors wanted to understand whether they can accumulate the stock for short term trading. Basically, I will say “Yes” for risk taker investors only and risk averse investors should only start to initiate position if the stock break through the SMA 200 (RM3.57).
Any initiation of position should set the stop loss level around RM3.25 with first profit taking level being set around RM3.80.
Immediate support is seen at RM3.40 (Fibonacci level of 50%), followed by RM3.25 and immediate resistance is seen at RM3.60, followed by RM3.90 level.
FKLI
The FKLI seems struggling to stay above the 1600 level, however, it should not experience major retracement as the 1584 level should serve as a good support level for now.
I 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.
3500 Level Becomes a Resistance Level?
The FCPO still struggles to leap above the important level that we are looking at – 3500! Whether this level will become a resistance level or support level, it is too early for us to make a firm conclusion at the moment. Investors can either choose to stay on bay or take a risk by initiating long position on the expectation that the 3500 level will be an important support level.
The immediate support is seen at 3450 level, followed by 3400 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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