2nd August, Thursday (Gamuda)

Gamuda

Last Done: RM3.52

Supporting at SMA 200!

The stock seems to support well above the SMA 200 level (RM3.50), thus, this should be a good reference level for those investors who are holding the stock. Definitely risk taker investors will ask whether this should serve as a good level to initiate position? My answer is “yes”. Risk taker investors can initiate position at this level with stop loss being placed around RM3.40 and first profit taking level at RM3.65.

The immediate support is seen at RM3.50level, followed by RM3.00 and the immediate resistance is seen at RM3.65, followed by RM3.90.

FKLI

Range Trading to Resume – 1650 to 1620 Levels!

Nothing has changed since yesterday and further range trading is expected. Nothing much can be expected as the index will trade in a tight range trading (within 1620 to 1650 levels), investors can take the above levels as a reference level for any fresh position initiation (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1650 level).

We will revisit our strategy provided the above mentioned level being taken out convincingly.

FCPO

3050 Level – Remains Tough at the Moment!

3050 level remains tough for the FCPO, at least for now since both Fibonacci level of 23.6% and SMA 20 are located at the above mentioned level. Provided this level can be taken over convincingly, else, recent rebound can only be considered as technical rebound. At the moment, the FCPO is expected to remain in the range trading of 2850 to 3050 levels.

Any fresh position initiation should take the above mentioned level as a reference level (long when the FCPO approaches 2850 level and short when the FCPO approaches 3050 level).

The immediate support is seen at 2850 level, followed by 2750 level and immediate resistance is seen at 3050 level, followed by 3100 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.