16th November, Friday (MBMR)

MBMR

Last Done: RM3.44

The stock staged a rebound at the SMA 200 (RM3.40) and this should serve as a good reference level for any new position initiation. Any new position should set your stop loss around RM3.40 and first profit taking level around RM3.90 level. The stock will face with the immediate resistance at RM3.55 - SMA 100 coupled with the Fibonacci level of 78.6%.

The immediate support is seen at RM3.40, followed by RM3.00 and the immediate resistance is seen at RM3.60 level, followed by RM4.00 level.

FKLI

Starting of the Downward Trading?

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

Re-Challenge SMA 30?

The FCPO came back to re-challenge the SMA 30 and will this level being taken over? It is too early at this moment to know the outcome, however, we can divide the current trading to 2 bands (2250 to 2450 & 2450 to 2650). Above mentioned bands can be taken as a good reference level for any position initiation with tight stop loss being placed around the mentioned level.

The immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2450 level, followed by 2500 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.