Last Done: RM8.89
Is this the Time?
A lot of investors interested to have the stock and raise the question that whether this is the time? In my opinion, this is still not the time as the stock yet to show any turning sign at the moment with the immediate support is being seen at RM8.40 only. Investors should wait for the turning even for long term trading.
The immediate support is seen at RM8.40, followed by RM8.00 and the immediate resistance is seen at RM9.20, followed by RM9.50.
The index will resume its tight range trading (within 1620 to 1650 levels), nothing much that investors can do except to capture on the range trading. 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 only revisit our strategy provided the above mentioned level being taken out convincingly.
Range Trading Resume – 2850 to 3000 Levels!
Decided to revise the range that the FCPO is expected to resume this week as 3000 level will remain tough for the FCPO as both the SMA 20 & psychological level is around this level, at least for now. At the moment, the FCPO is expected to remain in the range trading of 2850 to 3000 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 3000 level).
The immediate support is seen at 2850 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.
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