2nd November, Friday (parkson)

Parkson

Last Done: RM5.10

Immediate Important Support – RM5.00 Level!

The immediate important support level is at RM5.00 (SMA 200 & psychological level), so long as this level can be supported, we should see more upside moving forward. Since the breakdown from the SMA 200 (beginning of the year), the stock never take over the SMA 200 level, thus, this should be a very reliable reference level. Any new position initiation should set your stop loss level around RM4.95 level.

The immediate support is seen at RM5.00, followed by RM4.70 level and the immediate resistance is seen at RM5.50, followed by RM6.00 level.

FKLI

Approaching 1700 Level in a Slower Pace…

Nothing much has changed for the FKLI as we should see the index to head towards 1700 level, albeit in a slower pace. However, if the 1670 level not manages to be supported, the index is expected to hover around the 1640 level to 1670 level. The reliable support level has been revised higher to 1630 (from 1620 level) as both the uptrend line and SMA 100 level being located.

The immediate strong support is seen at 1670 level, followed by 1650 level and the immediate resistance is seen at 1680 level, followed by 1690 level.

FCPO

Sustaining above the SMA 30 Level?

The FCPO has taken over the SMA 30 (2517) yesterday, we should have the confirmation by the end of the day.

As mentioned, successfully taking over the SMA 30 will see the FCPO to head towards 2900 level. At current level, long position still will be preferred, especially those holding for mid to long term trading. Failure for the SMA 30 to be defended, we should see the FCPO to hover within 2450 to 2650 level (Fibonacci level of 23.6%).

The immediate support is seen at 2500 level, followed by 2450 level and the immediate resistance is seen at 2600 level, followed by 2650 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.