22nd August, Wednesday (MAS)

MAS

Last Done: RM1.10

So long as the stock managed to stay above the SMA 50 (RM1.08), it is giving us an opportunity to accumulate position for short term trading, especially for risk taker investors. Investors can set the stop loss around RM0.95 level with the first profit taking level being set around RM1.28.

The immediate support is seen at RM1.00 level, followed by RM0.80 level and the immediate resistance is seen at RM1.20 level, followed by RM1.40 level.

FKLI

Taking Over 1650 Level?

For this week, nothing has changed compare to last week as the FKLI may resume to 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?

We should have the firm answer for the above question by the end of today. 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).

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.