17th August, Friday (MISC)

Announcement:

Please take note that Bursa will be closed for next Monday and Tuesday in tandem with Hari Raya holiday. Wish all Muslim investors “Selamat Hari Raya Aidilfitri”.

MISC

Last Done: RM4.49

The stock is facing with its immediate tough resistance – RM4.55 (SMA 100), thus, so long as this level is being taken out, the stock will have higher chances to trade towards north. For risk taker investors, investors can accumulate position for short term trading once the stock breaks above the SMA 100 level convincingly with stop loss level being set around RM4.40 and first profit taking level around RM4.90 level.

The immediate support is seen at RM4.00 level, followed by RM3.80 level and the immediate resistance is seen at RM5.30 level, followed by RM6.00 level.

FKLI

Breakout?

Investors, especially risk averse investors should not take your position overnight cause of the long raya holiday. Nothing much to expect from today market as the FKLI should be hover around current level (1650), 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

Taking Over SMA 20 Convincingly?

So long as the SMA 20 is being taken over convincingly, we shall see the FCPO to move towards 3040 level (Fibonacci level of 23.6%). More upside is expected as the tough resistance is only being seen at 3160 level (SMA 100 & SMA 200).

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).

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.