29th May 2012, Tuesday (MRCB)

MRCB

Last Done: RM1.64

Having an Eye on It!

The stock is showing some sign of rebounding, it is worthwhile to take a look at the stock. For risk taker investors, confirmation should set in within these 2 days and so long as the stock can stay above the SMA 20 (RM1.64), it is worthwhile to accumulate position for short term trading with the first profit taking level being set around RM1.85 and stop loss level being set around RM1.50.

The immediate support is seen at RM1.50 and the immediate resistance is seen at RM1.75, followed by RM2.00.

FKLI

Supporting above 1550 Level!

The FKLI taken out the 1550 level yesterday, so long as this level managed to be supported, the overall uptrend remains intact and the index will head towards 1580 level.

However, there are still a lot of work to be done for FKLI – 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 1540 level, followed by 1530 level and the immediate resistance is seen at 1560 level, followed by 1570 level.

FCPO

Range Trading Resume…

There is still a close fight between the bulls and bears and nothing can be done except to trade within the range (long when the FCPO approaches the 3040 level and short when the FCPO approaches 3155 level) or stay on bay until a clear direction can be detected.

We are still eyeing the FCPO to take over the SMA 200 level (3155) convincingly before a clear direction can be detected. No matter what, any position initiation at this moment should couple with tight stop loss point.

The immediate support is seen at 3100 level, followed by 3050 level and immediate resistance is seen at 3155 level, followed by 3230 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.