5th March, Tuesday (MMC Corp)

MMC Corp

Last Done: RM2.50

Immediate Resistance – RM2.60 to RM2.75

The stock is facing with its immediate tough resistance at RM2.60 level (SMA 200), followed by RM2.75 (the recent high built and last for 3 months). Not much to be expected from the stock as the stock is expected to resume its tight range trading as mentioned above.

The immediate resistance is seen at RM2.75, followed by RM3.00 and the immediate support is seen at RM2.45, followed by RM2.25.

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, especially any level near to 1650.

Not much to be expected as the index will hover around the SMA 200 level (1627). 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

Regained its Posture Above 2400…

The FCPO staged a rebound at the important support level – 2365 and regained its posture above the 2400 level. As mentioned, if it managed to stage a rebound, the FCPO will resume its 200 points trading (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 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.