15th August, Wednesday (yinson)

Announcement:

Please take note that effective today, FCPO’s margin rate will be revised higher to RM7,000/contract in tandem with the long Hari Raya holiday.

Yinson

Last Done: RM2.08

Those who are having the stock will need to be very cautious as the stock dropped below the SMA 50 (RM2.13) and stayed below this level for the past 1 week. SMA 50 served as a good support level since October last year and never been taken out before. Investors who are holding the stock should take some action, especially if the stock dropped below RM2.00 level (psychological level and SMA 100 level).

The immediate support is seen at RM2.00 level, followed by RM1.80 level and the immediate resistance is seen at RM2.30 level, followed by RM2.50 level.

FKLI

Convincing Breakout?

We will get the answer by the end of today, if the 1650 level can be well defended, investors can initiate long position with the stop loss level being set around 1640 level and first profit taking level to be set around 1670 level.

Else, investors should remain to capture the range trading (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.