19th June, Tuesday (mRCB)

MRCB

Last Done: RM1.80

Since last covered at the end of May, those investors who have bought the stock should take your first level of profit at current level as the stock is facing with tough resistance around RM1.90 to RM2.00 levels (SMA 200 & psychological level). For investors who are looking for fresh initiation, you will need to wait till the stock leap above the RM2.00 for a more convincing accumulation of position.

The immediate support is seen at RM1.50 and the immediate resistance is seen at RM2.00, followed by RM2.35 level.

FKLI

25 Points Range Resume…

Nothing has changed for the past 2 weeks as the index remains hovering within the 25 points range. Investors can only capture on the range trading (short when the FKLI approaches 1585 level and long when the FKLI approaches 1550 level).

Provided the 1585 level can be taken over convincingly, then, we will expect the FKLI to re-challenge the historical high, else, not much to be expected from the FKLI. Any long position should couple with tight stop loss level.

The immediate support is seen at 1570 level, followed by 1560 level and the immediate resistance is seen at 1585 level, followed by 1590 level.

FCPO

Starting of the Rebound?

The FCPO is showing some sign of staging a rebound at current level, however, this rebound is still being perceived as technical rebound and it may be for short term only. Provided the FCPO can regain its posture above the 3050 level (Fibonacci level of 23.6%), then the rebound will be firmer. Short position will be preferred if the FCPO approaching 3000 level.

The immediate support is seen at 2850 level, followed by 2800 level and immediate resistance is seen at 2925 level, followed by 2950 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.