31st May 2012, Thursday (Genting Malaysia)

Genting Malaysia

Last Done: RM3.84

Heading towards RM4.00!

The stock taken over the important resistance level – SMA 200 that we are eyeing thus far coupled with the higher low, so, the long term uptrend may continue with the immediate resistance is seen at RM4.00 level. Investors can accumulate the stock for short to mid-term trading with the first profit taking being set around RM4.20 level and stop loss level being set around RM3.55.

The immediate support is seen at RM3.55, followed by RM3.00 and the immediate resistance is seen at RM4.05, followed by RM4.60.

FKLI

Range Trading – 1550 to 1585 Levels!

Not much of changes since yesterday as the index remains hover in the range that we are eyeing. 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.

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 3200 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. If the SMA 200 unable to be taken over convincingly, we might see the FCPO to resume its range trading. 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.