Last Done: RM2.44
The stock is expected to resume its range trading of RM2.30 to RM2.50 level with the immediate tough resistance is seen at RM2.50 level. Provided the RM2.50 level (SMA 200 & Fibonacci level of 50%) can be taken out convincingly, else nothing much that investor can do except to capture on the range trading.
The immediate support is seen at RM2.25, followed by RM2.00 level and the immediate resistance is seen at RM2.50 level, followed by RM2.80 level.
FKLI
Reliable Support – SMA 200!
As mentioned, the 1600 level (SMA 200 & psychological level) remains as a reliable support level. I am still in the view that it is worthwhile to take the risk by initiating long position with stop loss being placed around 1590 level and first profit taking level around 1620 level.
The immediate support is seen at 1600 level, followed by 1590 level and the immediate resistance is seen at 1615 level, followed by 1620 level.
FCPO
Range Trading Resume – 2250 to 2450 Levels!
The FCPO is expected to resume its range trading of 2250 to 2450 level. Provided the SMA 30 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 2300 level, followed by 2250 level and the immediate resistance is seen at 2350 level, followed by 2400 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.
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