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.
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