Announcement: Please be informed that there will be no daily market outlook for the coming 1 week (23rd April until 30th 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 2nd 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.
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