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.