3rd May, Friday (Overall Strategies)

Please don’t forget your responsibilities as a Malaysian – exercise your rights as a Malaysian! Please go home and vote!

FBMKLCI

Final Countdown… Be Ready…

Final trading day before the GE-13, my view for equity traders remains unchanged - 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.

No one will able to know what will be the outcome of the GE-13 this Sunday, thus, investors should have your planning in place for any possible outcome.

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). 

Investors should look for opportunity to initiate short position as this kind of risk is worthwhile to take with the high downside risk in place. The short position will be held through the GE-13.

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

FCPO

Immediate Support – 2200 Level…

The downtrend line currently located at the 2260 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. 2200 level remains as a level to initiate long position with stop loss level being 20 points away.

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

The immediate important support is seen at 2250 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.