11th April, Thursday (WaSeong)

WaSeong

Last Done: RM1.66

The stock is having its immediate resistance tough resistance at RM1.70 – RM1.80 level (SMA 100 & SMA 200). Provided the above can be taken over, then the stock will head towards RM2.00 level, else, nothing much to be expected as the stock will hover within the tight range of RM1.55 to RM1.75 levels.

The immediate resistance is seen at RM1.75, followed by another tough resistance at RM1.85 and the immediate support is seen at RM1.55 level (recent low).

FKLI

Higher Winning Probability – Short Position…

Nothing much has changed since yesterday and 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 after the polling date has been announced.

The immediate support is seen at 1680 level, followed by 1670 and the immediate resistance is seen at 1700.

FCPO

Hovering around the Downtrend Line…

The FCPO remains hovering around the downtrend line. We should have the confirmation whether this is a convincing break before the end of this week. 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 2365 level, followed by 2325 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.