6th March, Wednesday (IJM Land)

IJM Land

Last Done: RM2.22

Starting of the Uptrend?

The stock is approaching its important resistance level – SMA 200, a level that never being taken over for the past 6 months. If the stock is able to regain its posture above the current level, more upside is expected with the next tough resistance is seen at RM2.65 only.

The immediate resistance is seen at RM2.25, followed by RM2.65 and the immediate support is seen at RM2.00, followed by RM1.80.

FKLI

Approaching 1650 Level – Good to Short…

Any level near to 1650 will give us a good opportunity to initiate short position. Short position remains preferred as 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 1620 level, followed by 1600 and the immediate resistance is seen at 1650, followed by 1660 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 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 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.