Last Done: RM1.67
The immediate strong and reliable support is seen at RM1.55 – RM1.60 levels (SMA 200 & Fibonacci level of 38.2%), if the stock approaches this level and stage a rebound, it should serve as a level to accumulate position for short term trading.
Immediate tough resistance is at RM1.80 level. Not much is expected for the stock at the moment as it will still hover around the tight range trading (RM1.66 – RM1.80) that we are looking at.
FKLI
As mentioned, am still eyeing for the 1600 level as further upside is expected for the FKLI. I will remain my view that long position is more preferred at the moment. Any weakness for today should serve as another opportunity for us 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), followed by 1600 level.
Sign of Rebound?
The FCPO seems to stage a rebound at the Fibonacci level of 50%, we should have the confirmation by the end of today. If this is happening, it is worthwhile to take a chance by initiating long position with stop loss level being set around 3300 level.
The immediate support is seen at 3350 level, followed by 3200 level and immediate resistance is seen at 3400 level, followed by 3500 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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