10th April 2012, Tuesday (kNM)

 

Announcement:

Please be informed that Bursa will be closed for tomorrow (11^th

April 2012) in tandem with the Installation of the Yang di-Pertuan

Agong XIV.

KNM

Last Done: RM0.845

Certain investors are asking whether they can accumulate this stock for short term trading, my answer will be “yes” for risk taker investors but “no” for risk averse investors. Even then, you might need to wait for a while before the stock will move as volume yet to set in.

The immediate very tough resistance is at RM1.00 (SMA 50, SMA 100 & psychological level), thus, provided the RM1.00 level is being taken over convincingly, else, the stock will remain trading below RM1.00 level but should be well supported at current level. Any position being initiated, the stop loss level should be set around RM0.78 level.

Immediate support is seen at RM0.80, followed by RM0.75 level and immediate resistance is seen at RM1.00 level, followed by RM1.40 level.

FKLI

Double Top Formation?

There is a tendency for this to be happened as the chart starts to show some signal on this, however, it is still too early to confirm and make a conclusion. The index may suffer further minor correction with the immediate support is seen at 1570 level (SMA 50). We shall closely monitor on the development in Dow as Dow is approaching the immediate important support level as well and we should be able to make a firmer conclusion on Thursday.

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.

FCPO

Attractive to Short?

Gap opening suffered last week coupled with the widening between the FCPO and SMA 20 are attracting us to accumulate short position, however, as mentioned yesterday, it might only be suitable for risk taker investors as overall uptrend remains intact.

For risk taker investors, it might be an opportunity to initiate short position for short term trading (shorter than 2 weeks) with stop loss level being set around 3600 and first profit taking level should be around 3470 level.

Immediate support is seen at 3550 level, followed by 3500 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.