14th November, Wednesday (yTL Power)

YTL Power

Last Done: RM1.56

The stock will resume its downward pressure if the immediate important support – RM1.54 (recent low) is not able to be supported. The downside risk remains high so long as the stock is trading below its Bollinger middle band coupled with the widening in the upper and lower band. Investors who have the intention to accumulate position should not do it at the current level. Any position initiation should at least wait until the stock leap above the middle band.

The immediate support is seen at RM1.55, followed by RM1.30 and the immediate resistance is seen at RM1.75 level, followed by RM2.00 level.

FKLI

Hovering around SMA 100…

The index is currently hovering around the SMA 100 level, will this level able to be supported? We will not speculate on the direction but we will follow the direction. If the SMA 100 level is not able to be supported, we may see the FKLI to drop further towards 1600 as the next reliable support level is only being seen at 1600 level (SMA 200 & psychological level). Investors should closely monitor the SMA 100 level for any new position initiation.

The immediate support is seen at 1630 level, followed by 1600 level and the immediate resistance is seen at 1636 level, followed by 1650 level.

FCPO

Starting of the Rebound?

The FCPO staged a strong rebound at the recent low (2230 level), will this be the start of the rebound? Hard to know at the moment, however, provided the 2430 level can be taken over, else, we should see the FCPO to hover within 2230 to 2430 level for the week. Volume is expected to be thin for this short trading week.

The immediate support is seen at 2300 level, followed by 2230 level and the immediate resistance is seen at 2400 level, followed by 2450 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.