18th January, Friday (YTL)

YTL

Last Done: RM1.79

Immediate Reliable Support – RM1.80 Level!

The stock should be able to support at RM1.80 as it is a reliable support level (SMA 200, SMA 100 and Fibonacci level of 61.8%). Investors can take this level as a good reference level for any new position accumulation. However, not much to be expected for the stock as the is expected to hover around RM1.70 to RM1.90.

The immediate support is seen at RM1.80 and the immediate resistance is seen at RM2.00 level, followed by RM2.20.

FKLI

Sustaining Above SMA 20!

The index seems trying to sustain above the SMA 20 and so long as this level can be sustained, the upside is expected to resume. However, the trading range will be within the 20 points only (1680 to 1700).

The immediate support is seen at 1680 level, followed by 1670 and the immediate resistance is seen at 1690 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.