29th March, Friday (Tenaga)

Tenaga

Last Done: RM7.20

Strong Support – RM6.90 Level…

The stock is having its strong and reliable support level at RM6.90 (SMA 200, Fibonacci level of 78.6% & psychological level), thus, any new position initiation should take the mentioned level as a reference level for placing of stop loss.

The immediate support is seen at RM6.90, followed by RM6.50 and the immediate resistance is seen at RM7.40, followed by RM8.00 level.

FKLI

Last Day of Window Dressing…

Upward trading is expected to resume for the day in tandem with the last trading day for the quarter. 

Investors can start to search for opportunity to initiate short position for the April contract month.

Volatility is expected to be high for the remaining of the trading period until the end of the GE-13.

The immediate support is seen at 1650 level, followed by 1640 and the immediate resistance is seen at 1680, followed by 1700 level.

FCPO

Immediate Important Support – Downtrend Line (2400)

As mentioned, if the FCPO can leap above the long term downtrend line (blue line) and the 2475 level, the FCPO will trade into the next 200 points territory (2400 to 2600). However, not much to be expected as the trading range remains tight (200 points only).

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.