Last Done: RM2.06
With the price staying above the Bollinger middle band and the widening of the upper and lower band, we are going to see the stock moving towards north. However, the only barrier at the moment will be the SMA 200 level, provided this level can be taken over convincingly, more upside is expected.
For risk taker investors, this can be the level to accumulate position for short term trading with stop loss level being set around RM1.96 level and first profit taking level around RM2.20 level, whereas for risk averse investors, investors should only accumulate position if the stock successfully staying above the RM2.15 level.
The immediate support is seen at RM2.00, followed by RM1.90 level and the immediate resistance is seen at RM2.15, followed by RM2.35 level.
The FKLI is at its crucial level at the moment, we shall wait patiently for the movement. If the index can leap above the historical high convincingly, long position definitely will be the preference, else, short position with stop loss level around 1615 level should be initiated.
The immediate support is seen at 1600 level, followed by 1590 level and the immediate resistance is seen at 1610 level, followed by 1620 level.
FCPO
Immediate Resistance – 3040 Level!
As mentioned, provided the FCPO can regain its posture above the 3050 level (Fibonacci level of 23.6%), then the rebound will be firmer, else, it is still being perceived as a technical rebound only. For risk taker investors, investors can initiate short position with stop loss level being set around 3060 level.
The immediate support is seen at 3000 level, followed by 2950 level and immediate resistance is seen at 3050 level, followed by 3100 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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