Last Done: RM1.61
Immediate Strong Support – RM1.50 Level!
The immediate strong support is seen at RM1.50 level (SMA 200 & Fibonacci level of 23.6%), any drop near to this level should give us an opportunity to accumulate the stock with stop loss being set around RM1.40.
The immediate support is seen at RM1.50, followed by RM1.25 and the immediate resistance is seen at RM2.00, followed by RM2.50 level.
FKLI
Initiating Long Position?
Since the index has taken over the 1790 level convincingly, is this the time to initiate long position? In my opinion, investors can initiate long position around 1800 level with stop loss level being placed around 1790 level. However, I am in the view that the upside the limited at the moment.
The immediate support is seen at 1790 level, followed by 1780 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 - 2210 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.
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