9th April 2012, Monday (mayBank)

MayBank

Last Done: RM8.88

Overall technical landscape remains healthy with immediate resistance for the stock is seen at RM9.00 level, followed by RM9.40 level, whereas for the immediate strong support is seen at RM8.50 (SMA 200). Those who have the stocks can remain ridding on this uptrend, however, should start to scale up and take profit, especially when the stock approaching the RM9.00 level.

Immediate support is seen at RM8.50, followed by RM8.00 level and immediate resistance is seen at RM9.00 level, followed by RM9.40 level.

FKLI

Uptrend Remains Resilient!

Overall uptrend remains intact as the index is well-supported above the uptrend line (green) and the simple moving average. Any level below 1580 should serve as a good level to initiate long position with stop loss level being set around 1570 level.

For the week, the immediate support is seen at 1583 level (SMA 20), followed by 1565 level (SMA 50) and the immediate resistance is seen at 1600 level, followed by 1630 level.

FCPO

Sustaining Above 3600 Level!

Whether the FCPO will able to sustain above the 3600 level should be our concern for the week. As mentioned, further uptrend is expected, however, the gap opening suffered last week coupled with the widening between the FCPO and the moving average is attracting our attention. The FCPO might experience some minor but healthy retracement before further uptrend can set in.

Investors can either choose to resume ridding on the uptrend (as the next tough resistance is seen at 3710 level only) or choose to stay at bay. No matter what, short position will not be encouraged at the moment (except intraday trading) as the uptrend may resume.

Immediate support is seen at 3500 level, followed by 3450 level and immediate resistance is seen at 3600 level, followed by 3650 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.