19th October, Friday (IJM)

IJM

Last Done: RM5.05

Immediate Reliable Support – RM5.00 Level!

The immediate reliable support level is at RM5.00 level (SMA 20, Fibonacci level of 23.6% and the psychological level), thus, any new position initiation should take the above level as the reference level.

The stock is expected to hover within RM5.00 to RM5.40 (SMA 200), provided either of the level is being taken over convincingly, else, not much to be expected from the stock.

The immediate reliable support is seen at RM5.00 level, followed by RM4.50 level and the immediate resistance is seen at RM5.40 level, followed by RM6.00 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. 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

Range Trading Resume…

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.