1st March, Friday (petronas chemical)

Petronas Chemical

Last Done: RM6.35

The stock is facing with its immediate tough resistance at RM6.40 (SMA 200 & Fibonacci level of 50%), not much to be expected as the stock is expected to hover around RM6.15 to RM6.60 levels.

The immediate support is seen at RM6.15, followed by RM6.00 and the immediate resistance is seen at RM6.40, followed by RM6.70 level.

FKLI

High to Short…

With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position, especially any level near to 1650.

Not much to be expected as the index will hover around the SMA 200 level (1624). The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Starting of the Free Fall?

As mentioned, if the FCPO not able to support itself above the 2400, we might see another free fall of the FCPO until 2200 level. However, it is still early at this stage to confirm on the breakdown, investors will need to closely monitor this level.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). The same goes for the lower band – if the 2400 level not able to be supported, we shall see another 200 points of free fall.

The immediate support is seen at 2380 level, followed by 2350 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.

28th February, Thursday (cimb)

CIMB

Last Done: RM7.11

The stock is facing with its immediate tough resistance at RM7.15 (SMA 20 & Fibonacci level of 23.6%), not much to be expected as the stock is expected to hover around RM7.00 to RM7.15 levels. 

The downside risk is high ahead of election and more downside is expected in the near future. Investors who are having the stock might consider taking your profit around current level.

The immediate support is seen at RM7.00, followed by RM6.55 and the immediate resistance is seen at RM7.15, followed by RM7.50 level.

FKLI

Testing SMA 200?

Not much to be expected as the index will hover around the SMA 200 level (1626). With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Immediate Support – 2400 Level!

Trading below the SMA 30 and the downtrend line might indicate the free fall of another 200 points (to 2200), especially if the 2400 level cannot be supported. We will have a confirmation by the end of today.

The current level remains as an important support level as both the SMA 30 and the downtrend line located. Investors will need to closely monitor the current level for any new position initiation.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The immediate support is seen at 2400 level, followed by 2350 and the immediate resistance is seen at 2450 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.

27th February, Wednesday (astro)

Astro

Last Done: RM2.70

Overall technical landscape remains downward trading, however, the stock is having its first level of support around current price and most important is the stock must able to support at the recent low (RM2.60).

Not much to be expected as the stock will trade in the range of RM2.60 to RM2.75 levels. The immediate support is seen at RM2.60, followed by RM2.50 and the immediate resistance is seen at RM2.75, followed by RM3.00 level.

FKLI

Testing SMA 200?

Not much to be expected as the index will hover around the SMA 200 level (1626). With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Dropping Below the SMA 30?

Trading below the SMA 30 and the downtrend line might indicate the free fall of another 200 points (to 2200), especially if the 2400 level cannot be supported. We will have a confirmation by the end of today.

The current level remains as an important support level as both the SMA 30 and the downtrend line located. Investors will need to closely monitor the current level for any new position initiation.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The immediate support is seen at 2400 level, followed by 2350 and the immediate resistance is seen at 2450 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.

26th February, Tuesday (Gamuda)

Gamuda

Last Done: RM3.82

The immediate tough resistance is seen at RM3.90 to RM4.00 level, thus, investors who are having the stock might want to consider taking your profit around current level, especially any level above RM3.90.
The immediate support is seen at RM3.65, followed by RM3.50 and the immediate resistance is seen at RM4.00, followed by RM4.25 level.

FKLI

Hovering around SMA 200 (1626)…

Not much to be expected as the index will hover around the SMA 200 level. With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.
Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Immediate Support – SMA 30…

The FCPO traded slightly below its important support level – SMA 30. The current level remains as an important and reliable support level as both the SMA 30 and the downtrend line located. Investors will need to closely monitor the current level for any new position initiation.
The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 
The immediate support is seen at 2450 level, followed by 2400 and the immediate resistance is seen at 2500 level, followed by 2550 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.

25th February, Monday (DJIA)

DJIA

Heading towards Historical High – 14200 Level!

As mentioned, we should see the DJIA to re-challenge the historical high of 14200 level, albeit in a slower pace. The index is expected to hover around current level (14000) as this is an important base need to be built. Trading range expected will be 13800 to 14000 levels.

For the week, the immediate support remains at 13800 level, followed by 13700 level and the immediate resistance is seen at 14200 level.

FKLI

Range of 1625 – 1600 Levels…

With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Hovering around the Downtrend Line…

The FCPO remains to hover around the downtrend line (2550 level). As mentioned previously, as long as the FCPO can leap above the downtrend line, the FCPO will challenge its next tough resistance – 2600 to 2630 levels. Any new long position initiation should take the 2550 level as a reference level to set your stop loss level.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The FCPO is expected to hover around the 2600 level for the remaining of the week. The immediate support is seen at 2550 level, followed by 2500 and the immediate resistance is seen at 2600 level, followed by 2650 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.

22nd February, Friday (digi)

Digi

Last Done: RM4.58

Investors who are having the stock will need to pay extra attention as the stock is trading below its important support – SMA 200 (RM4.65). If the stock not able to regain its posture above the SMA 200 in the short term, investors should consider to take your profit around current level as this might be the starting of the downward trading.

The immediate support is seen at RM4.50, followed by RM4.00 and the immediate resistance is at RM5.00, followed by strong resistance at RM5.45 level.

FKLI

1600 – Important Reference…

With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

Additional short position can be initiated, especially if the 1600 level not able to be held. The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Hovering around the Downtrend Line…

The FCPO remains to hover around the downtrend line (2550 level). As mentioned previously, as long as the FCPO can leap above the downtrend line, the FCPO will challenge its next tough resistance – 2600 to 2630 levels. Any new long position initiation should take the 2550 level as a reference level to set your stop loss level.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The FCPO is expected to hover around the 2600 level for the remaining of the week. The immediate support is seen at 2550 level, followed by 2500 and the immediate resistance is seen at 2600 level, followed by 2650 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.

21st February, Thursday (SK Petro)

SK Petro

Last Done: RM2.87

This might be the start of the downward trading as all the technical indicators have started to show weakness with the stock facing with its immediate resistance at RM2.90 (SMA 20 & Fibonacci level of 78.6%). Not much to be expected from the stock provided the RM3.00 level can be taken over.

The immediate support is seen at RM2.70, followed by RM2.50 and the immediate resistance is at RM3.00, followed by strong resistance at RM3.15 level.

FKLI

Firm Downtrend…

With the index trading below its SMA 200 and the upcoming election, short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Immediate Support – 2550 Level…

As mentioned previously, as long as the FCPO can leap above the downtrend line, the FCPO will challenge its next tough resistance – 2600 to 2630 levels. Any new long position initiation should take the 2550 level as a reference level to set your stop loss level.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The FCPO is expected to hover around the RM2600 level for the remaining of the week. The immediate support is seen at 2550 level, followed by 2500 and the immediate resistance is seen at 2600 level, followed by 2650 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.

20th February, Wednesday (benalec)

Benalec

Last Done: RM1.21

The stock is facing with its immediate resistance at RM1.21 – RM1.25 (Fibonacci level of 23.6% & 38.2%), followed by the next tough resistance at RM1.35 – RM1.40 levels. All the mentioned levels can be taken as a good reference price for any profit taking activity.

The immediate support is seen at RM1.15, followed by RM1.00 and the immediate resistance is at RM1.25, followed by strong resistance at RM1.40 level.

FKLI

Relax – Just Hold on to your Short Position…

Short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Leaping above the Downtrend Line?

As mentioned previously, as long as the FCPO can leap above the downtrend line, the FCPO will challenge its next tough resistance – 2600 to 2630 levels. Any new long position initiation should take the 2550 level as a reference level to set your stop loss level.

The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

The FCPO is expected to hover around the RM2600 level for the remaining of the week. The immediate support is seen at 2550 level, followed by 2500 and the immediate resistance is seen at 2600 level, followed by 2650 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.

19th February, Tuesday (CIMB)

CIMB

Last Done: RM7.00

Investors will need to take extra cautious as the RM7.00 level is very important, if the stock not able to support above this level, the stock might suffer free fall until the next support level – RM6.60.

The immediate support is seen at RM7.00, followed by RM6.60 and the immediate resistance is  at RM7.15, followed by strong resistance at RM7.50 level.

FKLI

Hold on to your Short Position…

Short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any short position can be held without much worry.

The immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Testing the Downtrend Line…

The immediate tough resistance remains at 2550 (the downtrend line). The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

Not much to be expected as the FCPO will remain in the range of 2600 to 2400 levels. The immediate support is seen at 2450 level, followed by 2425 level (SMA 30) 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.

18th February, Monday (DJIA)

DJIA

Heading towards Historical High – 14200 Level!

As mentioned, we should see the DJIA to re-challenge the historical high of 14200 level, albeit in a slower pace. The index is expected to hover around current level (14000) as this is an important base need to be built.

For the week, the immediate support remains at 13800 level, followed by 13700 level and the immediate resistance is seen at 14200 level.

FKLI

Short Position Remains Preferred…

Short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high in current high political risk environment. Any level near to 1650 should serve as a good level to initiate short position.

For the week, the immediate support is seen at 1600 level, followed by 1550 and the immediate resistance is seen at 1624, followed by 1640 level.

FCPO

Range of 200 Points…

The immediate tough resistance remains at 2550 (the downtrend line). The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

Not much to be expected as the FCPO will remain in the range of 2600 to 2400 levels. The immediate support is seen at 2450 level, followed by 2425 level (SMA 30) and the immediate resistance is seen at 2500 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.

15th February, Friday (Overall Strategies)

Happy Chinese New Year! 

FBMKLCI

The index is expected to resume hovering around the SMA 200 level (1626). No matter what, as mentioned, investors should remain to take profits and liquidate your position in this high political risk environment. 

In current high political risk environment, fundamental analysis will supersede technical analysis, thus, investors should not fully rely on the technical indicators to gauge the market direction.

The immediate support is at 1626 level (SMA 200), followed by 1600 level, if the index dropped below 1600, it will have another 50 points of free fall until 1550 level (Fibonacci level of 61.8%).

FKLI

Short Position Remains Preferred…

Short position remains preferred and investors should look for opportunity to initiate short position instead of searching for opportunity to initiate long position. The risk of holding long position is very high. Any level near to 1650 should serve as a good level to initiate short position.

For today, the immediate support is seen at 1624 level, followed by 1600 and the immediate resistance is seen at 1640, followed by 1645 level.

FCPO

Testing the Downtrend Line…

Nothing has changed since yesterday as the immediate tough resistance will be at 2550 (the downtrend line). The FCPO is expected to resume its 200 points trading (2400 to 2600). Provided the 2600 level can be taken over convincingly, only we should see the FCPO to re-challenge the 2800 level (SMA 200). 

Not much to be expected as the FCPO will remain in the range of 2600 to 2400 levels. The immediate support is seen at 2500 level, followed by 2425 level (SMA 30) and the immediate resistance is seen at 2450 level, followed by 2420 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.