4th September, Tuesday (asia Media)

Announcement:

The margin for FCPO has been reduced to RM6000 (from RM7000) per contract effective 2^nd session of business yesterday.

Asia Media

Last Done: RM1.02

There are some questions on this stock, we should have a look at the stock today. Overall technical landscape remains healthy, however, there are too many technical indicators that reaching its peak at the moment. Thus, investors will need to take extra cautious on the stock. You should take your first level of profit at current level and remaining position to ride on this profit with stop loss level being adjusted higher to RM0.90.

The immediate support is seen at RM1.00 level, followed by RM0.80 level and the immediate resistance is seen at RM1.30, followed by RM1.50 level.

FKLI

Tight Range Trading Resume…

The FKLI is expected to resume its range trading of 1620 to 1655 levels (between the 2 lines drawn in the chart). Nothing much that investor can do except to capture on the range trading (initiate long position when the FKLI approaches 1620 level and initiate short position when the FKLI approaches 1655 level with stop loss level being set around 6 points away). We will only revisit our strategy provided the above mentioned level being taken out convincingly.

FCPO

Heading Towards SMA 200 Level?

The immediate tough resistance for the FCPO is located at the SMA 200 only (3165 level), thus, the FCPO is expected to trade within 3000 (SMA 50 & psychological level) to 3160 levels (SMA 200) for these few days. Investors can initiate long position around 3000 level (especially any level below 3000) with stop loss level being set around 2970 level.

The immediate support is seen at 3000 level, followed by 2980 level and immediate resistance is seen at 3100 level, followed by 3160 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.