Last Done: RM4.26
Overall uptrend remains intact (both short term and long term), investors who are holding the stock can remain the stock in your portfolio, however, for those investors who are looking for short term trading only, this should be your first profit taking level as the immediate resistance is seen at the recent high (RM4.32).
The immediate support is seen at RM4.00, followed by RM3.75 level and the immediate resistance is seen at RM4.35, followed by RM4.50 level.
FKLI
The FKLI is expected to hover around the above mentioned level with the listing of FGVH, however, not much is expected from the index as the index will remain in the range trading of 1600 to 1615 levels. Short position will still be preferred at current level.
The immediate support is seen at 1600 level, followed by 1590 level and immediate resistance is seen at 1610 level, followed by 1620 level.
FCPO
Hovering Around 3040 Level…
Nothing much to expect if the FCPO does not leap above the above mentioned 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.
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