14th August, Tuesday (CSL)

Announcement:

Please take note that effective tomorrow (15^th August 2012), FCPO’s margin rate will be revised higher to RM7,000/contract in tandem with the long Hari Raya holiday.

CSL

Last Done: RM1.05

The stock took over the Bollinger middle band yesterday and the widening in the upper and lower band should indicate the upward trading for the stock moving forward. Investors can accumulate position for short term trading with stop loss level being set around RM0.95 and first profit taking level around RM1.20 level.

The immediate support is seen at RM1.00 level, followed by RM0.80 level and the immediate resistance is seen at RM1.25 level, followed by RM1.40 level.

FKLI

Convincing Breakout?

Will the FKLI successfully breaking through the range that we are eyeing for the past 1 month – within 1620 to 1650 levels? Although the chance is very high, however, it is still too early to make a firm conclusion and nothing much that investors can do except to capture on the range trading.

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). We will only revisit our strategy provided the above mentioned level being taken out convincingly.

FCPO

Critical Support Level – 2835 Level!

The FCPO will need to defend above the 2835 level (recent low) to avoid further drop in FCPO to 2750 level. So long as this level can be supported, we should see the FCPO to remain in the range trading that we have referred to for the past 1 month (2835 to 3000 levels).

The 3000 level will remain tough for the FCPO as both the SMA 20 & psychological level is around this level, at least for now.

At the moment, the FCPO is expected to remain in the range trading of 2835 to 3000 levels. Any fresh position initiation should still take the above mentioned level as a reference level (long when the FCPO approaches 2835 level and short when the FCPO approaches 3000 level).

For the week, the immediate support is seen at 2835 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.