26th June, Tuesday (Bumi Armada)

Bumi Armada

Last Done: RM4.03

For those risk taker investors, this stock is worthwhile to have a look so long as the stock is supported above the current level. Investors can accumulate the stock for short term trading with stop loss being set around RM3.85 level and first profit taking level being set around RM4.20.

The immediate support is seen at RM4.00, followed by RM3.85 level and the immediate resistance is seen at RM4.25, followed by RM4.50 level.

FKLI

Giving Away - 1600 Level?

With the FGVH going to be listed this Thursday, the overall index seems supporting well above the 1600 level even with any major retracement suffered in the overnight DJIA. However, we are reminding investors of those turning sign shown. At current level, short position will 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.

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

Challenging 3040 Level!

Again, the FCPO is going to re-challenge the 3040 level. As mentioned, provided the FCPO can regain its posture above the 3040 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 3060 level.

The immediate support is seen at 2950 level, followed by 2900 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.