22nd April, Monday (DJIA)

Announcement: Please be informed that there will be no daily market outlook for the coming 1 week (23^rd April until 30^th April) as I will be away, however, stocks and futures’ research report/ market outlook from our company will remain available for your reference. You can re-access to this site starting 2^nd of May 2013.

DJIA

Important Support Level – 14350 Level!

The immediate important support level will be at 14350 level (SMA 50 & the recent base built), if this level is not able to be supported, the index will have further free fall till 14000 level.

Downward trading is expected to resume but not expecting a major retracement.

For the week, the immediate support is seen at 14500 level, followed by 14350 level and the immediate resistance is seen at 14700 level, followed by 14900 level

FKLI

Be Patient on Holding Short Position…

No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700).

For risk averse investors, you might want to initiate short position on any level above 1700 level with stop loss level being set around 1720 level.

For the week, the immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1710, followed by 1720 level.

 

FCPO

Tight Range Trading…

The downtrend line currently located at the 2300 level, forcing the FCPO to trade within the range of 2300 to 2200 levels. The FCPO will need to take over the 2300 level convincingly, else, the long term downward trading will resume.

There are 2 levels worthwhile to take a risk to initiate long position with 20 points of stop loss – 2270 & 2200 levels (the 2 horizontal lines drawn).

For the week, the immediate important support is seen at 2270 level, followed by 2200 and the immediate resistance is seen at 2300 level, followed by 2400 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.

19th April, Friday (AirAsia)

AirAsia

Last Done: RM2.93

Starting of the upward trading? 

The stock took over the SMA 200 level yesterday, a level that never being taken over since last August. Will this indicate the stock is starting its upward trading? I am in the view that it is still too early to justify as the immediate next tough resistance will be at RM3.00 level (psychological level and Fibonacci level of 50%). Provided the RM3.00 level can be taken over convincingly, only the uptrend is confirmed.

The immediate support is seen at RM2.80, followed by RM2.65 and the immediate resistance is seen at RM3.00, followed by RM3.35.

FKLI

Be Patient on Holding Short Position…

No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700). 

For risk averse investors, you might want to initiate short position when the polling day drawing nearer or any level above 1700 level with stop loss level being set around 1720 level.

The immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1700, followed by 1720 level.

FCPO

Long Term Downtrend Resume…

As mentioned, if the 2325 level not able to be supported, the FCPO is expected to have another 100 points of free fall. The next strong and reliable support can only be seen at 2200 level. Any short term trading, investors can only take a smaller risk by initiating long position when the FCPO dropped to 2200 level.

If the FCPO can regain its posture above the downtrend line in the near future, more uptrend is expected. Else, the long term downward trading is expected to resume. 

The immediate important support is seen at 2250 level, followed by 2200 and the immediate resistance is seen at 2300 level, followed by 2350 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.

18th April, Thursday (KPS)

KPS

Last Done: RM1.20

The stock seems will resume with its tight range trading of RM1.00 to RM1.50 level. Provided the RM1.50 level can be taken over convincingly, else, nothing much to be expected from the stock. The immediate resistance is seen at current level (Fibonacci level of 23.6%), investors who are looking for opportunity to initiate new position, this level will need to be taken over before any new position should be initiated.

The immediate support is seen at RM1.00, followed by RM0.80 and the immediate resistance is seen at RM1.50, followed by RM1.80.

FKLI

Be Patient on Holding Short Position…

No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700). 

For risk averse investors, you might want to initiate short position when the polling day drawing nearer or any level above 1700 level with stop loss level being set around 1720 level.

The immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1700, followed by 1720 level.

FCPO

Long Term Downtrend Resume…

As mentioned, if the 2325 level not able to be supported, the FCPO is expected to have another 100 points of free fall. The next strong and reliable support can only be seen at 2200 level. Any short term trading, investors can only take a smaller risk by initiating long position when the FCPO dropped to 2200 level.

If the FCPO can regain its posture above the downtrend line in the near future, more uptrend is expected. Else, the long term downward trading is expected to resume. 

The immediate important support is seen at 2250 level, followed by 2200 and the immediate resistance is seen at 2300 level, followed by 2350 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.

17th April, Wednesday (Hap Seng)

Hap Seng

Last Done: RM1.68

The stock has been hovering within a very tight range of RM0.20 (RM1.60 – RM1.80) since year 2012. Nothing much to be expected provided the stock can take over RM1.80 level. This stock is expected to resume its tight range trading.

The immediate support is seen at RM1.60, followed by RM1.40 and the immediate resistance is seen at RM1.80, followed by RM2.00.

FKLI

Bias to Short Position…

 No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700).

For risk averse investors, you might want to initiate short position when the polling day drawing nearer or any level above 1700 level.

The immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1700, followed by 1720 level.

FCPO

Long Term Downtrend Resume…

As mentioned, if the 2325 level not able to be supported, the FCPO is expected to have another 100 points of free fall. The next strong and reliable support can only be seen at 2200 level. Any short term trading, investors can only take a smaller risk by initiating long position when the FCPO dropped to 2200 level.

If the FCPO can regain its posture above the downtrend line in the near future, more uptrend is expected. Else, the long term downward trading is expected to resume.

The immediate important support is seen at 2250 level, followed by 2200 and the immediate resistance is seen at 2325 level, followed by 2350 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.

16th April, Tuesday (Top Glove)

Top Glove

Last Done: RM5.79

The stock is facing with its immediate tough resistance at RM6.00 (Fibonacci level of 61.8% & psychological level). Provided this level can be taken over convincingly, else, nothing much to be expected from this stock as the stock will hover within RM5.50 to RM6.00 level.

The immediate support is seen at RM5.60 level, followed by strong support at RM5.20 and the immediate resistance is seen at RM6.00, followed by RM6.60.

FKLI

Short Position Remains…

No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700) with stop loss level being set around 1720 level. For risk averse investors, you might want to initiate short position when the polling day drawing nearer or any level above 1700 level.

The immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1700, followed by 1720 level.

FCPO

Long Term Downtrend Resume…

As mentioned, if the 2325 level not able to be supported, the FCPO is expected to have another 100 points of free fall. The next strong and reliable support can only be seen at 2200 level. Any short term trading, investors can only take a smaller risk by initiating long position when the FCPO dropped to 2200 level.

If the FCPO can regain its posture above the downtrend line in the near future, more uptrend is expected. Else, the long term downward trading is expected to resume. 

The immediate important support is seen at 2250 level, followed by 2200 and the immediate resistance is seen at 2325 level, followed by 2350 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.

15th April, Monday (DJIA)

DJIA

Trying to Challenge Tough Resistance – 15000 Level!

The index will try to challenge the immediate tough resistance – 15000 level! However, the index might need to take a breather before it can resume its upward trading. I am still in the view that the current level is at its peak and retracement is expected to set in.

For the week, the immediate support is seen at 14600 level, followed by 14500 level and the immediate resistance is seen at 14900 level, followed by 15000 level.

FKLI

Bias to Short Position…

No matter what, investors should try to avoid holding long position for long term trading (any time frame more than a week) as the political risk remains high and please bear in mind that we do not take the risk when your probability of winning is less than 60% (only 33% of winning probability - if BN is to win more than 2/3). However, intraday long position might be something worthwhile to take but always remember to keep your stop loss tight.

For long term investors (expected to hold more than a week), investors should look for opportunity to initiate short position (higher winning probability) instead of searching for opportunity to initiate long position (especially any level above 1700). For risk averse investors, you might want to initiate short position when the polling day drawing nearer or any level above 1700 level.

For the week, the immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1700, followed by 1720 level.

FCPO

Hovering around the Downtrend Line…

The FCPO remains hovering around the downtrend line, nothing much that investor can do provided the downtrend line can be taken over convincingly, more uptrend is expected. Else, the long term downward trading is expected to resume. 

Trading range remains within the 2325 to 2500 levels. As mentioned, if the 2325 level not able to be supported, the FCPO is expected to have another 100 points of free fall.

The immediate important support is seen at 2325 level, followed by 2300 and the immediate resistance is seen at 2400 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.