Last Done: RM9.04
Nothing much to be expected from the stock as the stock will hover around the tight range trading of RM8.90 to RM9.30 level. Immediate reliable support level is seen at RM8.90 (SMA 100 and the base for the recent low). Provided either of the above mentioned level can be taken over convincingly, else, the stock will resume its boring session for the remaining of the year.
The immediate support is seen at RM8.90 level, followed by RM8.50 level and the immediate resistance is seen at RM9.30 level, followed by RM9.50 level.
Range Trading Resume… (1670 to 1640 Levels)
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 remaining of 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
Immediate Resistance – SMA 30!
The immediate resistance is seen at 2600 level (SMA 30) to 2640 level (Fibonacci level of 23.6%), if the mentioned level can be taken out, the FCPO will be heading towards 2900 level. Those who have initiated long position previously can take your first profit taking level around RM2600 level with stop loss being revised higher to 2500 level. Current level, long position will be preferred.
The immediate support is seen at 2500 level, followed by 2450 level and the immediate resistance is seen at 2600 level, followed by 2640 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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