Last Done: RM7.54
Struggling to Sustain…
The stock is trying to test its important resistance level – SMA 200. The stock will need to leap above the SMA 200 (RM7.60) for further upward trading. The immediate support is seen at the Fibonacci level of 38.2% (RM7.50) and this should serve as short term reliable support level. Not much to be expected from the stock as it may resume its range trading of RM7.10 to RM7.90 levels.
The immediate support is seen at RM7.50, followed by RM7.10 level and the immediate resistance is seen at RM7.60 level, followed by RM8.00 level.
FKLI
1600 Level – Remains as a Reliable Support!
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 1620 level, followed by 1630 level.
FCPO
Approaching the Lower Band of the Range – 2250 Level!
Nothing have changed since yesterday as 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.
The immediate support is seen at 2250 level, followed by 2215 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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