7th June, Friday (CIMB)

CIMB

Last Done: RM8.06

The stock seems started its downward trading, especially when it traded below its important SMA 20 (a level that never being taken over since April). The immediate important support will be at RM8.00 to RM7.80, failure for this level to be supported will cause free fall of the stock with the next reliable support level can be seen at RM7.00 only.

The immediate support is seen at RM8.00, followed by RM7.80 and the immediate resistance is seen at RM8.50.

FKLI

Range Trading…

For the past one month, both the FBMKLCI & FKLI are trading in the range of 40 points (1790 – 1750), 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 should serve as a good level to initiate short position, especially if 1750 level not able to be supported.

The immediate support is seen at 1750 level and the immediate resistance is seen at 1780 level.

FCPO

Tough Resistance – SMA 100 & SMA 200…

The FCPO is facing with its tough resistance at SMA 100 (2400) and SMA 200 (2500). 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 hurdle at 2600 level (Fibonacci level of 23.6%).

The immediate support is seen at 2400 level, followed by 2350 level and the immediate resistance is seen at 2450 level, followed by 2500 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.