21st September, Friday (yTL)

YTL

Last Done: RM1.80

Starting of the Downside?

Yet to be confirmed at the moment, however, if the stock dropped below the RM1.80 level (SMA 100 & Fibonacci level of 61.8%) convincingly, investors will need to take extra cautious, it maybe the starting of the downward trading.

For the past one year, the stock never drop below SMA 100, thus, this indicator should serve as a good reference for us to accumulate position or to set stop loss level.

The immediate support is seen at RM1.79 level and the immediate resistance is seen at RM2.00 level, followed by RM2.15 level.

FKLI

Immediate Reliable Support – 1600 Level!

The index is expected to resume its range trading of 1620 to 1655 levels and 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.

FCPO

2815 Level – Reliable and Important Support Level?

As per mentioned, the immediate downside target will be at 2825 level, thus, any drop near to/ below this level is worthwhile for investors to take a risk by initiating 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.