3rd January, Thursday (AirAsia)

AirAsia

Last Done: RM2.77

The stock staged a rebound at RM2.50 and currently trading above the SMA 20. Although the stock does face with its immediate tough resistance at RM2.90 to RM3.00 levels, it is worthwhile to take a risk by initiating new position at current level with stop loss being placed around the recent low (RM2.50).

The immediate support is seen at RM2.50 and the immediate resistance is seen at RM2.90, followed by RM3.05 level.

FKLI

Immediate Tough Resistance – 1700 Level!

The immediate tough resistance for the FKLI is located at 1700 level, thus, investors who are holding long position should consider taking your first level of profit around current level. The downside risk is high at the moment with a lot of technical indicators reaching its peak, however, no major retracement is expected with the immediate support is seen at 1650 level.

The immediate support is seen at 1660 level, followed by 1650 level and the immediate resistance is seen at 1690 level, followed by 1700 level.

FCPO

Range of 2300 to 2600 Level!

The FCPO is expected to hover around the 300 points mentioned above. 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 be remained in the range of 2600 to 2300 level. The immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2550 level, followed by 2600 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.