16th May, Thursday (Harvest)

Harvest

Last Done: RM0.405

The stock took over the SMA 200 level, indicating more upward trading is expected with its immediate resistance is seen at RM0.50 – RM0.55 levels. No matter what, this is a speculative stock, thus, investors should not initiate position with long term trading objective. Any position initiation should set your stop loss around the SMA 200 as it will be a good indication for the short term trading.

The immediate support is seen at RM0.35, followed by RM0.25 and the immediate resistance is seen at RM0.50 level, followed by RM0.85. 

FKLI

Immediate Resistance – 1800 Level!

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. Besides, most of the index members already trading into un-charted territory, thus, investors will need to take extra cautious on any long position holding.

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

Hovering around the Downtrend Line…

The FCPO will need to take over the 2330 level (the downtrend line) before further upside can set in. The FCPO will need to take over the 2330 level convincingly, else, the long term downward trading will resume. The downtrend line currently located at the 2330 level, forcing the FCPO to trade within the range of 2330 to 2200 levels. Taking over the 2330 level will give us a good opportunity to initiate long position.

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.