Last Done: RM2.95
The stock has created a base and halted the downward movement, we are more positive on this stock and remain in view that the RM2.80 should be the immediate support for now and it is worthwhile to take the risk by accumulating position for short term trading with stop loss level being set around RM2.70 level and first profit taking level being set around RM3.15.
The immediate support is seen at RM2.70, followed by RM2.50 and the immediate resistance is seen at RM3.00, followed by RM3.55.
FKLI
Ahead of the budget announcement in the second half, investors should take your profit and stay on bay ahead of the budget announcement as uncertainty remains in place. However, the immediate reliable support level remains at 1600 level (SMA 100 & psychological level).
The immediate support is seen at 1600 level, followed by 1580 level and the immediate resistance is seen at 1640 level, followed by 1650 level.
FCPO
New Base – Around 2600 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 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 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.
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