Announcement:
Tomorrow, we will have our last week (4 of 4) of Futures’ article.
Last Done: RM2.42
The stock is expected to trade in the tight range trading (RM2.30 to RM2.50) if the Fibonacci level of 50% is not able to be taken over convincingly. Investors who are having the stock can hold on to your position with the immediate support is seen at RM2.30 level and immediate resistance is seen at RM2.50 level.
FKLI
Range Trading Resume… (1550 to 1585 Levels)
Nothing much has changed for the week as the index resumes its range trading that we are eyeing (1550 to 1585 levels). Investors can only 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 from the FKLI.
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
Immediate Support – 2925 Level!
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%. However, the recent low (2925) remains as the important support level, at least for now. Any long position can take the above mentioned level as the stop loss level.
The immediate support is seen at 2950 level, followed by 2925 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.
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