7th December, Friday (tenaga)

Tenaga

Last Done: RM7.03

Re-challenge 2-year High…

So long as the stock is able to stay above its important support level – RM7.00 (Fibonacci level of 78.6%, SMA 100 & psychological level), the stock will test its 2-year high, albeit in a slower pace. At current stage, a lot of the technical indicators are pointing towards north side trading, thus, investors can accumulate position for short term trading with stop loss level being set around RM6.70.

The immediate support is seen at RM7.00, followed by RM6.50 level and the immediate resistance is seen at RM7.50 level, followed by RM8.00 level.

FKLI

Heading towards 1650 Level!

So long as the SMA 20 can be taken over convincingly coupled with the widening in the upper and lower band, we should see the index to head towards 1650 before the end of the year. Thus, investors should closely monitor the SMA 20 level (1616),

As mentioned, the 1600 level (SMA 200 & psychological level) remains as a reliable support level. I am still in the view that any weakness should serve as a good level to initiate long position.

The immediate support is seen at 1610 level, followed by 1600 level and the immediate resistance is seen at 1620 level, followed by 1630 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) can 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.

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.