27th July, Friday (Genting)

Genting

Last Done: RM9.11

More Weakness Ahead?

The stock will need to regain its posture above the RM9.20 level as soon as possible, else, we shall see the stock suffering free fall until a more reliable support level being seen at RM8.40 only. Further weakness is expected as the price is below the SMA 20 coupled with the widening in the upper and lower band.

The immediate support is seen at RM9.00 level, followed by RM8.40 level and the immediate resistance is seen at RM9.20, followed by RM10.00 level.

FKLI

Range Trading – 1650 to 1620 Levels!

Nothing much has changed since yesterday as the SMA 20 remains the important support for the FKLI. Overall mid to long term uptrend remains intact, thus, any short position should be for short term trading.

Not much to expect from the market as the index will trade in a tight range trading (within 1620 to 1650 levels), investors can take the above levels as a reference level for any fresh position initiation (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1650 level).

FCPO

Immediate Important Support – 2835 Level!

The FCPO has an uphill task, the two most important support levels (2835 & 2750) need to be defended, else, we shall see the FCPO to resume its downward trading. At the moment, the FCPO is expected to trade within the range of 2850 to 3050 levels.

The immediate support is seen at 2850 level, followed by 2750 level and immediate resistance is seen at 3000 level, followed by 3040 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.