Announcement:
Please take note that effective next Wednesday (15th August 2012), FCPO’s margin rate will be revised higher to RM7,000/contract in tandem with the long Hari Raya holiday.
JCY
Last Done: RM1.43
Immediate Important Support – SMA 100!
The stock will need to support above the SMA 100 (RM1.43) to avoid any major retracement to set in. Since the upward trading (end of last year), the stock never fall below the SMA 100 level, thus, this is important for the stock to slip into downward trading.
However, nothing much to be expected from the stock as the stock has been hovering within the RM1.35 to RM1.60 level for the past 4 months.
The immediate support is seen at RM1.35, followed by RM1.15 and the immediate resistance is seen at RM1.60, followed by RM2.00.
FKLI
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.
Critical Support Level – 2835 Level!
The FCPO will need to defend above the 2835 level (recent low) to avoid the FCPO to further drop until 2750 level. So long as this level can be supported, we should see the FCPO to remain in the range trading that we have referred to so far (2835 to 3000 levels).
The 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 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).
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.
No comments:
Post a Comment