6th February, Wednesday (WCT)

WCT

Last Done: RM2.10

Although the downtrend is expected to resume, the immediate reliable support level is at RM2.00 (psychological level and Fibonacci level of 23.6%). Investors who are having the stocks can take the above mentioned level as a good reference level. 

The immediate support is seen at RM2.00, followed by RM1.60 and the immediate resistance is seen at RM2.20, followed by RM2.40 level.

FKLI

Short Position Preferred…

Investors should remain to look for opportunity to initiate short position instead of long position, especially any level near to the 1650 level. Any long position initiation should try to avoid holding through the long weekend or long holiday. The SMA 200 (1624) & 1600 remains as an important support level, failure for the 1600 level to be supported, more downside is expected. Investors will need to closely monitor the above mentioned level.

The immediate support is seen at 1620 level, followed by 1600 and the immediate resistance is seen at 1630, followed by 1640 level.

FCPO

Immediate Tough Resistance – 2600 Level!

The immediate tough resistance will be at 2600 (Fibonacci level of 23.6% and the downtrend line). The FCPO is expected to hover around the 200 points range (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 2600 level, followed by 2700 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.