Last Done: RM4.66
Overall uptrend for the stock remains intact as the stock has convincingly breaking above the SMA 200 level (RM4.40). Investors who are having the stock can ride on this uptrend and the immediate resistance is seen at Fibonacci level of 61.8% (RM4.70). Investors can consider to take your first level of profit when the stock approaching RM5.00 level.
The immediate support is seen at RM4.40 level, followed by RM4.25 level and the immediate resistance is seen at RM4.70, followed by RM5.00 level.
The FKLI is expected to 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.
Immediate Support – 3000 to 2980 Levels!
The immediate tough resistance for the FCPO is located at the SMA 200 only (3165 level), thus, the FCPO is expected to trade within 3040 (Fibonacci level of 23.6%) to 3160 levels (SMA 200) for these few days. Investors can initiate long position around 3040 level with stop loss level being set around 3000 level.
For risk averse investors, you may want to initiate long position around 2980 level only as the FCPO may need to close the gap set on 22nd of August before set a rebound to retest its tough resistance – SMA 200.
The immediate support is seen at 3000 level, followed by 2980 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.
No comments:
Post a Comment