12th December, Wednesday (astro)

Astro

Last Done: RM2.98

Testing Tough Resistance – RM3.00 Level!

The stock is hovering around the RM3.00 level and testing to take over the level convincingly. However, a lot of the technical indicators started to show its weakness and investors will need to take extra cautious. The RM3.00 level remains as tough resistance, at least for now. Investors who have bought the stock previously should consider to take your first level of profit around current level.

The immediate support is seen at RM2.60, followed by RM2.30 and the immediate resistance is seen at RM3.00, followed by RM3.50 level.

FKLI

Re-Challenge Historical High!

The 1650 level came in much earlier and there is a chance that the index will retest its historical high by the end of the month as year-end window dressing is expected to set in. Thus, any weakness should still serve as a good level to initiate long position. At current level, we are expecting the index to hover around the 1650, at least for the remaining week to build the base before re-testing the historical high.

The immediate support is seen at 1630 level, followed by 1620 level and the immediate resistance is seen at 1650 level, followed by 1660 level.

FCPO

Consolidating around 2275 Level…

The FCPO seems building its base around the 2275 level, will this be a good support level? It is too early to confirm, however, for risk taker investors, any level below 2250 (lower band of our range trading) should give us a chance to take a risk by initiating long position with stop loss level being set around 2200 level.

I am still in the view that investors who have shorted the FCPO previously should consider to take your profit when the FCPO approaching the lower band of the range that we are looking – 2250 level! The 2215 level (recent low) remains a reliable support level, at least for now. It is worthwhile to take a risk and initiate long position if the FCPO is trading near to this level.

For the week, the immediate support is seen at 2250 level, followed by 2215 level and the immediate resistance is seen at 2350 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.