27th September, Thursday (UOA Dev)

UOA Development

Last Done: RM1.53

The current level should serve as a reliable support level as the SMA 200 & Fibonacci level of 23.6% are located at RM1.50 level. Investors who are having the stock can take this level as a reference level for any new position initiation or placing of stop loss order.

The immediate support is seen at RM1.50, followed by RM1.15 and the immediate resistance is seen at RM1.90, followed by RM2.05.

FKLI

Reliable Support – 1600 Level!

We are still in the view that the 1600 will be a reliable support level, at least for another day. This should serve as a good reference level for any new position initiation and cut loss level. 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, especially ahead of the budget announcement tomorrow.

The immediate support is seen at 1600 level, followed by 1580 level and the immediate resistance is seen at 1620 level, followed by 1640 level.

FCPO

Creating a Base…

The FCPO will need to regain its posture above the 2670 level, else, we might see the free fall for the FCPO and the more reliable support levels are only being seen at 2470 level, followed by 2270 level.

The FCPO seems to create the new base around 2600 level and so long as this level can be supported ahead of the final quarter for the year of 2012, the downside will be limited. However, at the moment, overall trend remains downward trading, thus, any long position (for risk taker investors) should couple with tight stop loss point.

The immediate support is seen at 2600 level, followed by 2550 level and the immediate resistance is seen at 2700, followed by 2750 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.