Last Done: RM1.78
Dropping below the SMA 20 and the important support level (RM1.90) is indicating more weakness moving forward. The immediate strong support is only being seen at RM1.55 level. However, technical rebound is expected to set in soon as the stock is trading near to the oversold territory.
The immediate support is seen at RM1.55 level, followed by RM1.30 level and the immediate resistance is seen at RM1.90, followed by RM2.00 level.
FKLI
Although the overall technical landscape has turned negative, however, so long as the 1600 level is not being taken out convincingly, the overall mid to long term uptrend remain intact. Currently, the 1600 is considered as a strong support level as it is the psychological, 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 1600 level, followed by 1580 level and the immediate resistance is seen at 1620 level, followed by 1630 level.
More Downside?
Dropping below the SMA 20 yesterday might indicate more south trading for the FCPO, we should have the confirmation by the end of today. However, the important support level remains at 2836 level. This level should serve as a good reference level for any position initiating (initiate long position when the FCPO approached this level with stop loss level around 20 points).
The immediate support is seen at 2900 level, followed by 2840 level and immediate resistance is seen at 2970 level, followed by 3000 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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