14th May, Tuesday (MRCB)

MRCB

Last Done: RM1.73

The stock is currently staying above the SMA 200, indicating more uptrend moving forward with the immediate strong support is seen at RM1.55 level. Any new position initiation can take the above mentioned level as a stop loss level.

The immediate support is seen at RM1.55, followed by RM1.20 and the immediate resistance is seen at RM2.00 level. 

FKLI

Trading with Cautious…

The market is expected to resume its huge volatility for these 2 weeks and the political front remains uncertain at this moment. 

Technically, no conclusion that we can make at this moment as the chart yet to show us a pattern/ direction that we can follow. However, the RSI has shown its peak and this might cause the index to trade towards south side.

Risk averse investors should not hold any position for overnight and any position initiation should couple with tight stop loss.

Risk taker investors can initiate short position, especially any level near to 1800 with stop loss level around 1820 level.

The immediate support is seen at 1750, followed by 1720 level and the immediate resistance is seen at 1780, followed by 1800 level.

FCPO

Immediate Resistance – 2350 Level…

The FCPO will need to take over the 2350 level (the downtrend line) before further upside can set in. The FCPO will need to take over the 2350 level convincingly, else, the long term downward trading will resume. The downtrend line currently located at the 2350 level, forcing the FCPO to trade within the range of 2350 to 2200 levels. Taking over the 2350 level will give us a good opportunity to initiate long position.

For the week, the immediate important support is seen at 2250 level, followed by 2215 and the immediate resistance is seen at 2350 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.