9th January, Wednesday (YTL Power)

YTL Power

Last Done: RM1.67

The immediate tough resistance for the stock is at RM1.70 level (SMA 200), a level that never being taken out for more than a year. Thus, if the stock managed to break through the above level, more upside is expected. Investors can closely monitor the above mentioned level for any fresh position initiation.

The immediate support is seen at RM1.50 and the immediate resistance is at RM1.70, followed by RM2.00 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 downside risk remains high at the moment with a lot of technical indicators reaching its peak, however, no major retracement are 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

Immediate Support – SMA 30 (2370)!

The immediate important support will be at SMA 30, 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.

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 2500 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.