Announcement:-
Investors who have attended the seminar session (Learn the Correct Trading Techniques Now), if you are trading futures, I did setup some additional concepts for Futures traders and some examples being provided as well. If you do need the materials, please drop me an email by quoting your Identification Code for our easy reference. Thank you.
Last Done: RM1.70
Questions being raised on the potential upside for this stock, thus, will cover this stock for today. Basically, the overall uptrend yet to be confirmed at the moment as the stock will have to leap above the RM1.75 level (SMA 20 & Fibonacci level of 23.6%) before our buying can set in. Else, investors should wait patiently for the buying opportunity. Even the stock managed to regain its posture above the RM1.75 level, the next tough resistance level will be at RM2.00.
Immediate support is seen at RM1.50, followed by RM1.30 level and immediate resistance is seen at RM1.75 level, followed by RM2.00 level.
FKLI
Heading towards 1600 Level…
Without hesitation, the index should move towards the 1600 level after the recent minor retracement, albeit in a slower pace.
I will remain my view that long position is more preferred at the moment. Any weakness for today should serve as a level to initiate long position with stop loss level being set around 1565 level.
The immediate support is seen at 1560 level, followed by 1545 level (strong and reliable level) and the immediate resistance is seen at 1586 level (SMA 20 & SMA 30).
Range Trading – 3450 to 3500 Level!
Nothing much has changed from yesterday as am still eyeing the range of 3450 to 3500 level. We shall expect the FCPO to hover around the above mentioned band and any level traded near to the above range should give us an opportunity to initiate fresh position for short term trading.
As mentioned, it is important for the FCPO to stay above the 3500 level and I will maintain my view that if 3500 level is able to be sustained, it is a good level to initiate long position with stop loss level being set around 3470 level. This is a level that worthwhile to take a risk.
The immediate support is seen at 3450 level, followed by 3400 level and immediate resistance is seen at 3500 level, followed by 3519 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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