23rd May 2012, Wednesday (CIMB)

Announcement:

Every Saturday (starting from last Saturday 19^th May 2012) I will

publish an article on Futures. Those articles will provide a better understanding for all futures investors, especially new comers in the Futures trading environment.

CIMB

Rebounded at Fibonacci Level of 23.6%!

Last Done: RM7.25

The stock staged a rebound at Fibonacci level of 23.6% and this should serve as the immediate support level, at least for now.

Overall technical landscape remains weak with the stock trading below the SMA 200 (RM7.34) & SMA 20 (RM7.43). However, those risk taker investors can accumulate this stock for short term trading (less than a month) as the stock is staging a strong rebound at the Fibonacci level of 23.6%. Any position accumulation can set the stop loss level around RM7.00 and first profit taking level at around RM7.50.

The immediate support is seen at RM7.10, followed by RM6.60 and the immediate resistance is seen at RM7.50, followed by RM7.80 level.

FKLI

Immediate Resistance – 1540 to 1550 Levels!

The overall market remains weak if the 1580 level is not able to be taken out convincingly. The immediate target for the FKLI will be 1550 level, taking over 1550 level will have a higher probability that the FKLI will move toward 1580 level in the near future.

There are a lot of work to be done for FKLI – Fibonacci level of 78.6% (1540); SMA 20 (1560); SMA 30& SMA 50 (1570), thus, short position will be preferred at the moment. Investors can take the above mentioned level as a reference level when initiate fresh position.

The immediate support is seen at 1507 level, followed by 1500 level and the immediate resistance is seen at 1540 level, followed by 1550 level.

FCPO

Fight between Bulls & Bears - Resume!

Nothing has changed from last week as the FCPO remains hover around the range that we are eyeing (3050 – 3150 levels). So, what can investors do?

Investors can remain capturing the range trading – initiating long position if the FCPO trades near to 3050 with stop loss level being set around 2990 level and initiate short position if the FCPO approaching 3150 level with stop loss level being placed around 3175.

No matter what, if the 3050 level can be held, this level might be the low for the near future and more upside is expected moving forward. Investors should closely monitor this level can accumulate small long position for mid-term trading.

The immediate support is seen at 3100 level, followed by 3050 level and immediate resistance is seen at 3150 level, followed by 3200 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.