Last Done: RM3.48
The immediate strong support for the stock is at RM3.25 (SMA 200 & Fibonacci level of 78.6%), thus, any new position initiation should set stop loss level around RM3.25 level with first profit taking level RM3.90 level. Huge volatility for the stock is expected to resume, thus, this stock might not be suitable for risk averse investors.
The immediate support is seen at RM3.25 level, followed by RM3.00 level and the immediate resistance is seen at RM3.80, followed by RM4.00 level.
The FKLI is expected to resume its range trading of 1620 to 1655 levels. 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.
The immediate support is seen at 1640 level, followed by 1630 level and the immediate resistance is seen at 1655 level, followed by 1660 level.
FCPO
Immediate Important Support – 2420 Level till 2400 Level!
From technical perspective, overall trend remains downward trading, thus, any long position (for risk taker investors) should couple with tight stop loss point.
The current immediate important support level is seen at 2420 to 2400 level, if this level is not able to be supported, the FCPO will resume its sharp downward trading till 2270 level.
The immediate support is seen at 2420 level, followed by 2400 level and the immediate resistance is seen at 2500, 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.
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