28th November, Wednesday (iJM)

IJM

Last Done: RM4.88

The stock will need to regain its posture above the RM4.95 – RM5.00 levels, else, the stock will face with increasing downside risk. The reliable support level is located at the above mentioned level, if it is not being supported, we should see the stock to have a tough resistance level at RM5.00.

The immediate support is seen at RM4.40, followed by RM4.00 level and the immediate resistance is seen at RM5.00, followed by RM5.60 level.

FKLI

1600 – Sustainable?

It is too early at this stage to speculate whether this level can be supported or not, investors should trade with proper stop loss level. I am still in the view that this is a level that is worthwhile to take a risk and initiate long position, however, stop loss level definitely need to be in placed as well as no one will able to predict the market and we should trade according to the market.

The immediate support is seen at 1590 level, followed by 1580 level and the immediate resistance is seen at 1620 level, followed by 1630 level.

FCPO

Range Trading – 2250 to 2450 Levels!

The FCPO is expected to re-challenge its SMA 30 level, if SMA 30 is not able to be taken over convincingly, we should see the FCPO to trade within the band of 2250 to 2450. Provided the SMA 30 (2460) is being taken over convincingly, only we will see the FCPO to trade into the next range of 2450 to 2650 level.

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 (initiate short position when the FCPO approaching 2450 level; accumulate long position when the FCPO approaching 2250 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.