Last Done: RM1.12
Investors who are having the stock will need to pay extra attention on the stock as this might be the start of the downward trading. Two crucial support levels (SMA 100 & SMA 200) have been taken out with the widening in the upper and lower band is indicating that more downside trading is expected.
Technical rebound is expected to set in soon as the stock currently is trading near to the oversold territory, any technical rebound should serve as a good level to take your profit or cut your losses.
The immediate support is seen at RM1.00 level (last defend), followed by RM0.85 level and the immediate resistance is seen at RM1.25 level, followed by RM1.45 level.
FKLI
The FKLI will resume its range trading of 1620 to 1650 levels. Nothing much that investor can do except to capture on 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.
Heading towards Tough Resistance – SMA 200!
The immediate tough resistance for the FCPO is located at the SMA 200 (3165 level), thus, taking over the SMA 20 previously will indicate more upside for the FCPO. Investors can initiate long position around 3020 level with stop loss level being set around 3000 level.
The immediate support is seen at 3040 level, followed by 3000 level and immediate resistance is seen at 3100 level, followed by 3160 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.
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