7th June, Thursday (AirAsia)

AirAsia

Last Done: RM3.63

We should have a confirmation by the end of today. So long as the stock is able to sustain above the SMA 200 level (RM3.55), it is worthwhile to accumulate the stock for short term trading with the first profit taking level being set around RM3.85 and stop loss level being set around RM3.45.

The immediate support is seen at RM3.45 level, followed by RM3.25 and the immediate resistance is seen at RM3.85 level, followed by RM4.00.

FKLI

Range Trading Resume… (1550 to 1585 Levels)

The index is expected to hover within the range that we are eyeing (1550 to 1585 levels). Nothing much that investors can do except to capture on the range trading (short when the FKLI approaches 1585 level and long when the FKLI approaches 1550 level).

Provided the 1585 level can be taken over convincingly, then, we will expect the FKLI to re-challenge the historical high, else, not much to be expected as the FKLI will remain trading in the range that we are looking at.

The immediate support is seen at 1550 level, followed by 1540 level and the immediate resistance is seen at 1580 level, followed by 1590 level.

FCPO

Remain Weak…

The overall technical landscape for the FCPO remains weak at the moment with the FCPO trading below those SMAs and yet to regain its posture above the Fibonacci level of 23.6%. The FCPO may resume its range trading of 3000 to 3155 levels. So long as the FCPO can trade above the Fibonacci level of 23.6% (3040) level, investors can capture on this range trading by initiating long position and get ready to take profits when the FCPO trade above 3120 level.

The immediate support is seen at 3000 level, followed by 2950 level and immediate resistance is seen at 3040 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.