Last Done: RM6.12
Not the Time Yet!
A lot of investors eagerly waiting to accumulate new position for mid to long term trading, however, this is not the time yet as there is no turning signal shown at the moment. Investors will need to wait patiently and once the turning signal shown, we will strategize accordingly.
The immediate support is seen at RM6.00, followed by recent low RM5.75 and the immediate resistance is seen at RM6.50 (strong resistance), followed by RM7.00.
FKLI
Supporting above 1550 Level!
As mentioned, so long as 1550 level managed to be supported, the overall uptrend remains intact and the index will head towards 1580 level, albeit in a slower pace.
We may see the FKLI to hover around the 1550 to 1585 levels, provided the 1580 level can be taken out convincingly, nothing much that investors can do except to capture on the range trading (short when the FKLI approaches 1585 level and long when the FKLI approaches 1550 level).
The immediate support is seen at 1560 level, followed by 1550 level and the immediate resistance is seen at 1575 level, followed by 1580 level.
Bulls Won the Fight?
Still too early to confirm at the moment, we should have the answer by the end of this week. Meanwhile, the FCPO should hover around the 3200 to 3050 levels. Thus, this range will still be a good reference level for investors. Any short position should keep stop loss tight.
The immediate support is seen at 3100 level, followed by 3050 level and immediate resistance is seen at 3230 level, followed by 3250 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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