18th October, Thursday (Bursa)

Bursa

Last Done: RM6.43

Starting of the Rebound?

The stock leap above the SMA 100, a level that is difficult to be overcame for the past half a year. Will this indicate the stock has halted its downward trading and it will head towards north side moving forward? The chances is definitely higher, however, if the stock can take over the SMA 200 level (RM6.70), the upside is more convincing. Investors can take the above mentioned level as a reference level.

The immediate reliable support is seen at RM6.30 level, followed by RM6.00 level and the immediate resistance is seen at RM6.70 level, followed by RM7.00 level.

FKLI

Range Trading – 1640 Level to 1670 Level!

The overall uptrend remains intact, albeit in a slower pace. However, the index is expected to hover around the 1640 level to 1670 level for the week. The reliable support level has been revised higher to 1620 (from 1600 level) as both the uptrend line and SMA 100 level being located.

The immediate strong support is seen at 1640 level (SMA 20 & SMA 50), followed by 1630 level and the immediate resistance is seen at 1670 level (recent high), followed by 1680 level.

FCPO

Slow Movement…

The FCPO is expected to hover around the 2400 level to 2550 level. Provided either side can be taken out, else, we will not see much movement from the FCPO.

However, I am still in the view that if the FCPO managed to trade above the SMA 20 (2570 level), investors should take the opportunity to initiate long position with stop loss level being set around 2550 level. Long position will be more preferred at the moment.

The immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2500 level, followed by 2550 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.