17th January, Thursday (MISC)

MISC

Last Done: RM4.25

Taking over SMA 100 level (RM4.20) is indicating that the stock is having higher chances of taking over the next important and tough resistance level – SMA 200 (RM4.40).

If the stock is able to take over the SMA 200 level, it is worthwhile for investors to accumulate position for short term trading with stop loss level being placed around RM4.20.

The immediate support is seen at RM4.00 and the immediate resistance is seen at RM5.00 level, followed by RM5.40.

FKLI

Downside Trading Started?

The FKLI traded below its important support – SMA 20 for the first time for the year of 2013. Will this be the starting of the downward pressure? It is too early to confirm at the moment since it is just first day. However, investors who are still holding long position should take extra cautious. Failure to hold above the 1680 level will cause the index to retrace further towards 1650 level.

However, as mentioned, no major retracement is expected with the immediate support is seen at 1650 level and the immediate resistance is seen at 1680 level, followed by 1700 level.

FCPO

Immediate Reliable Support – SMA 30!

The immediate important support will be at SMA 30 (2367), breaking below this level will cause the FCPO to retrace another 100 points before the next support (2270) is able to set in. Investors should closely monitor the 2370 level for any new position initiation.

I am still in the view that it is worthwhile to take the risk by initiating long position with stop loss level being placed around 2350 level as the SMA 30 remains as a reliable support level.

The FCPO is expected to hover around the 300 (2300 to 2600). Provided the 2600 level (SMA 100) can be taken over convincingly, only we should see the FCPO to re-challenge the 2900 level (SMA 200). 

Not much to be expected as the FCPO will remain in the range of 2600 to 2300 level. The immediate support is seen at 2370 level, followed by 2350 level and the immediate resistance is seen at 2400 level, followed by 2450 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.