Range Trading – RM1.85 to RM1.65…
The stock is currently
building its base within RM1.85 to RM1.65 and the immediate reliable support is
located at RM1.50 (SMA 200). Any new position initiation should take the RM1.50
as a good reference level for placing of stop loss order.
The immediate support
is seen at RM1.65, followed by RM1.50 and the immediate resistance is seen at
RM1.85, followed by RM2.00 level.
FKLI
Remains below
SMA 20…
The
immediate resistance will be at 1750 level. Investors who are holding long position will
need to take extra cautious as this might be the start of the downward trading,
especially when the index has been trading below the SMA 20 (1760) for more
than 2 weeks. Any rebound above/ near to 1780 should serve as a good level to
initiate short position with stop loss level being set around 1790 level.
The
FKLI might need to close the gap set after the GE13 (1720 – 1700) before any
technical rebound can set in. The immediate support is seen at 1730 level,
followed by 1720 level and the immediate resistance is seen at 1750 level,
followed by 1760 level.
FCPO
Short Term
Downward Trading…
The
FCPO not able to take over the SMA 200, this might attract more shortist as the
next reliable support is seen at 2250 level only. Any dropped below/ near to the
mentioned level should serve as a good level to initiate long position with
stop loss being set around 2220 level.
The
immediate support is seen at 2300 level, followed by 2250 level and the immediate
resistance is seen at 2400 level, followed by 2450 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.
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