12th June, Wednesday (IJM)

IJM

Last Done: RM5.82

Immediate Support – RM5.60…

The stock might trade within the tight range of RM5.60 to RM6.00 level as the immediate resistance is seen at RM6.00 level. It will take time for either of these levels to be taken out convincingly. Thus, any position initiation, investors will need to be more patient.

The immediate support is seen at RM5.60, followed by RM5.30 and the immediate resistance is seen at RM6.00, followed by RM6.30.

 

FKLI

Range Trading…

Nothing has changed since yesterday as the range trading of 40 points (1790 – 1750) is expected to resume, provided either of this level can be taken out, else, nothing much to be expected. No matter what, the downside risk remains high from both fundamental and technical perspective. Any rebound, especially near to 1800 level should serve as a good level to initiate short position with stop loss level being set around 1820 level.

The immediate support is seen at 1755 level and the immediate resistance is seen at 1790 level, followed by 1800 level

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 FCPO

Tough Resistance – SMA 200!

The FCPO is facing with its tough resistance at SMA 200 (2480 to 2500 Levels). Investors should expect further tight range trading (within 200 points) for the coming few months. Even taking over the 2500 level, the FCPO will face with its final tough hurdle at 2600 level (Fibonacci level of 23.6%). Provided both these levels can be taken over convincingly, more upside is expected.

The immediate support is seen at 2450 level, followed by 2400 level and the immediate resistance is seen at 2500 level, followed by 2550 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.