21st March, Thursday (Maxis)

Maxis

Last Done: RM6.51

The stock will re-challenge the SMA 200 level (RM6.60), if this level is not able to be taken over, more downside is expected as mid-term trend has started to trend towards south.

The immediate support is seen at RM6.20 level, followed by RM6.00 level and the immediate resistance is seen at RM6.60 level, followed by RM7.00 level.

FKLI

Drawing Nearer…

It is nearer to GE-13 and more volatile market is expected moving forward. The index will re-test the important support – 1600 level, technically, this is considered a strong support level as this is a level that has been tested for more than 5 times but still manage to hold. However, ahead of the GE-13, 1600 level is expected to be taken out, is just a matter of time. Investors will need to bear in mind that fundamental should supersede technical analysis in this high political risk environment and short position should remain preferred.

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

FCPO

Trading Above the Uptrend Line?

As mentioned, if the FCPO can leap above the long term uptrend line (blue line), the chances for the FCPO to trade into the next 200 points territory will be very high.

Nothing much has changed has the FCPO is expected to resume its tight range trading – 100 points (2375 to 2475 levels) with the immediate support at 2365 level.

Provided the 2475 level can be taken over, then only we will see the FCPO to resume its 200 points trading range (2400 to 2600).

The immediate support is seen at 2365 level, followed by 2350 and the immediate resistance is seen at 2450 level, followed by 2475 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.