UEM Land
Red Alert! This stock is showing obvious weakness with the price trading below the Bollinger middle band coupled with the widening in the upper and lower band. Immediate important support is seen at RM2.00 (psychological level and Fibonacci level of 23.6%), thus, investors who are holding the stock will need to cut your position/ take profit if the RM2.00 level not able to be held.
Immediate support is seen at RM2.00, followed by RM1.55 and immediate resistance is seen at RM2.50, followed by RM3.00 level.
FKLI
Tight Range Trading…
The FKLI is expected to resume its tight range trading (1584 – 1600) for the week. I will remain my view that any weakness should serve as an opportunity to accumulate long position with stop loss level being set around 1580 level.
For the week, 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.
Re-gaining above the Important Level – 3500!
The FCPO is testing its important resistance level – 3500! If the FCPO successfully taking over the 3500 level, it should serve as a good level to initiate long position with stop loss level be set around 3480 level.
For the week, 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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