8th January, Tuesday (astro)

Astro

Last Done: RM3.00

Remain Tough…

The RM3.00 remains as the immediate tough resistance and the stock will need to garner enough power to break through this tough resistance. This stock will appear more attractive if this level can be taken out convincingly. Investors who are looking for opportunity to accumulate this stock should take the RM3.00 as a reference level.

The immediate support is seen at RM2.85 and the immediate resistance is at RM3.00, followed by RM3.15 level.

FKLI

1700 – Remains as Tough Resistance!

It will take time for this level to be taken out and nothing that investors can do except to wait patiently for the breakout. I remain positive towards the near term index in tandem with the upcoming election and in the view that the 1700 will be taken over once the retracement set in.

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 1680 level, followed by 1670 level and the immediate resistance is seen at 1700 level, followed by 1710 level.

FCPO

Range of 2300 to 2600 Level!

Nothing is expected to change for the week as 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 remain 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.