5th July, Thursday (benalec)

Announcement:

Please be informed that there will be no daily market outlook for the coming two weeks as I will be away for my vacation, however, stocks and futures’ research report/ market outlook from our company will remain available. You can re-access to the daily market outlook starting 23^rd of July. Tomorrow, I will cover a short term trading strategy for your reference.

Benalec

Last Done: RM1.15

A lot of investors asking me about this stock, thus, decided to cover today. From technical perspective, the immediate support for the stock is at RM1.09 level (recent low), followed by strong support level at RM1.00. Investors can take the above mentioned level for your fresh position initiation or to set stop loss level.

The immediate support is seen at RM1.09, followed by RM1.00 level and the immediate resistance is seen at RM1.22, followed by RM1.40 level.

FKLI

Capped at 1630 Level!

The index is expected to trade within the 1600 to 1630 level for the remaining 2 days and the downside risk is definitely increasing, thus, investors will need to take extra cautious on any position initiation. Intraday trading will be encouraged at this high volatility market. Investors can take the above mentioned level and initiate position in tandem (short when the market approached 1630 level and long when the market approached 1600 level).

The immediate support is seen at 1600 level, followed by 1580 level and immediate resistance is seen at 1620 level, followed by 1630 level.

FCPO

Tough ResistanceS…

Nothing has changed since yesterday as the next tough resistance is still located at the SMA 200 (3150 level), those investors who have initiated long position previously should consider to take your first level of profit when the FCPO approaching 3150 level. If the 3150 level can be supported, we will see the next tough resistance level at 3220 level (Fibonacci level of 38.2%).

The immediate support is seen at 3040 level, followed by 3000 level and immediate resistance is seen at 3150 level, followed by 3220 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.