25th June, Monday (DJIA & MBMR)

DJIA

Within the Range – 12550 to 12850 Levels!

For this week, the DJIA may hover around the above mentioned range as nothing much to be expected from the market. However, volatility is expected to resume as the development in the unsolved Europe debt will still affect the market’s direction.

For the week, the immediate support is seen at 12550 level, followed by 12300 level and the immediate resistance is seen at 12850 level.

MBMR

Last Done: RM3.08

So far, SMA 30 is a reliable indicator to look at when come to analyze this stock. Since the stock has approached the SMA 30 (RM3.07), investors can take a look at the stock for short term accumulation with stop loss level being set around RM2.97 and first profit taking level being set around RM3.25 level.

The immediate support is seen at RM3.00, followed by RM2.80 level and the immediate resistance is seen at RM3.25, followed by RM3.50 level.

FKLI

Minor Retracement to Set In Soon?

There are a few technical indicators showing some turning sign and minor retracement will set in soon? We shall closely monitor current level and arrange our strategy accordingly. At current level, short position may still be preferred but with tight stop loss level being set.

Please take note that within the year, the FKLI has tested the 1600 level 3 times (includes this round) and it is crucial for us to monitor this level closely. If this level cannot be taken out convincingly, we may see major retracement to set in. However, nothing can be confirmed at this juncture as it is still too early to make any firm conclusion.

For this week, the immediate support is seen at 1600 level, followed by 1580 level and immediate resistance is seen at 1610 level, followed by 1630 level.

FCPO

Immediate Resistance – 3040 Level!

Nothing has changed since last week, 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 and the FCPO will be trading within the range of 2850 to 3040 levels.

For risk taker investors, investors can initiate short position with stop loss level being set around 3050 level.

For the week, the immediate support is seen at 2950 level, followed by 2800 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.