23rd July, Tuesday (Puncak)

Puncak

Last Done: RM2.53

The immediate strong support is seen at RM2.25 level (SMA 20 & Fibonacci level of 61.8%), any drop near to this level should give us an opportunity to accumulate for short term trading. For risk taker investor, current level (which is near to the psychological support of RM2.50) should provide a good level for investors to accumulate position.

The immediate support is seen at RM2.50, followed by RM2.25 and the immediate resistance is seen at RM3.00, followed by RM3.50 level. 

FKLI

High to Sell…

Current level should give us an opportunity to initiate short position with stop loss level being set around 1810 level. However, investors will need to keep your stop loss tight as the uptrend might resume since the index has taken over the 1790 (upper band of the range trading). 

The immediate support is seen at 1780 level, followed by 1770 level and the immediate resistance is seen at 1810 level, followed by 1820 level.

FCPO

Opportunity to Initiate Long Position

The current level should serve as a good level to initiate long position with stop loss being set around 2240 level.

The FCPO is expected to trade within the 200 points range - 2215 to 2415 level (SMA 200), provided either of these levels can be taken over, else, nothing much to be expected. The FCPO not able to take over the SMA 200, this might attract more shortist as the next reliable support is seen at 2215 level only. 

The immediate support is seen at 2250 level, followed by 2215 level and the immediate resistance is seen at 2280 level, followed by 2300 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.