29th June, Friday (yTL Power)

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YTL Power

Last Done: RM1.76

The immediate tough resistance is at the SMA 200 & Fibonacci level of 23.6% (RM1.80), thus, those who bought the stock previously should consider taking your first level of profit at current level. Investors who want to initiate fresh position should wait until the stock break through the SMA 200 level, else, nothing much can be expected.

The immediate support is seen at RM1.50, followed by RM1.20 level and the immediate resistance is seen at RM1.80, followed by RM2.00 level.

FKLI

Downside Risk Increasing…

The downside risk remains high, especially if the 1580 level unable to be held. However, am in the view that this level will able to be supported, at least for today in view of the possibility of window dressing. Any level above 1600, short position will still be preferred.

The immediate support is seen at 1580 level, followed by 1570 level and immediate resistance is seen at 1600 level, followed by 1610 level.

FCPO

Still the Same Important Level to Look at – 3040!

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.