2nd May, Thursday (Overall Strategies)

Announcement: Please be informed that the margin for both FKLI & FCPO have been increased from RM4,000 & RM6,000 to RM6,000 and RM7,000 respectively.

FBMKLCI

Drawing Nearer…

The GE-13 is just around the corner and investors will need to take extra cautious for these 2 days as volatility is expected to set in. Investors should remain conservative in new position initiation provided you have proper planning in place, else, staying sidelines might be the best choice. Please bear in mind that we do not take the risk when your probability of winning is less than 60%. Any upward trading should give us additional opportunity to take profit for your remaining stocks in your portfolio.

For the week, the immediate support is seen at 1680, followed by 1650 and the immediate resistance is seen at 1720 level.

FKLI

Holding Short Position…

No matter what, investors should try to avoid holding long position ahead of the GE-13. 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.

These 2 days, investors should look for opportunity to initiate short position as this kind of risk is worthwhile to take. The short position will be held through the GE-13.

For the week, the immediate support is seen at 1680 level, followed by 1650 and the immediate resistance is seen at 1720.

FCPO

Tight Range Trading…

The downtrend line currently located at the 2280 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.

Ahead of the GE-13, investors will need to take extra cautious as our currency is expected to be volatile.

There are 2 levels worthwhile to take a risk and 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.