Announcement:
Every Saturday (starting from last Saturday 19th 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.
MAS
Short Term Technical Rebound!
Last Done: RM1.03
The stock seems to find its foot at the RM1.03 level with the stock trading into oversold territory. We should expect some technical rebound to set in and risk taker investors can accumulate position for short term trading (less than a month) with stop loss level being set around RM0.90 and first profit taking level to be set around RM1.15.
The immediate support is seen at RM1.00, followed by RM0.80 and the immediate resistance is seen at RM1.20, followed by RM1.40 level.
FKLI
Immediate Resistance – 1540 to 1550 Levels!
Nothing has changed for the week as 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.
Bears Won the Fight?
As mentioned, after taken into consideration of the volatility, any level more than 100 points below the SMA 200 (3155) should be considered as a confirmation of the bearishness for the FCPO. So long as 3000 level is not able to be held, free fall will set in and the next reliable support level can only be seen at 2750 level. We should patiently wait for another day for confirmation. Any initiate of short position should set your stop loss level around 3060 level.
The immediate support is seen at 3000 level, followed by 2950 level and immediate resistance is seen at 3040 level, followed by 3100 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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