Last Done: RM3.38
Immediate Tough Resistance – RM3.50!
The immediate tough resistance for the stock is at RM3.50 (SMA 50, SMA 100 & SMA 200), thus, investors who are holding the stock should think of taking your first level (at least) of profit at current level. Not encourage for any new position initiation as the risk and reward ratio is not in tandem.
The immediate support is seen at RM3.25 level and the immediate resistance is seen at RM3.50 level, followed by RM3.65 level.
FKLI
The index is expected to resume its range trading of 1620 to 1655 levels, at least for the week. We are still in the view that the 1600 will be a reliable support level, at least for now. This should serve as a good reference level for any new position initiation and cutting of losses. The 1600 is considered as a strong support level as it is the psychological level, the uptrend line (green line) and the SMA 100 level.
Thus, any drop near to 1600 level is worthwhile for investors to take a risk and initiate long position with stop loss level being set around 1590.
The immediate support is seen at 1620 level, followed by 1600 level and the immediate resistance is seen at 1640 level, followed by 1655 level.
Important Support – 2825 Level!
As per mentioned, the immediate downside target will be at 2825 level, thus, any drop near to/ below this level should serve as an opportunity to initiate long position with stop loss level being set around 20 points lower. First profit taking level should be set around 2945 level.
The immediate support is seen at 2825 level, followed by 2800 level and immediate resistance is seen at 2900 level, followed by 2925 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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