25th July, Thursday (Kim Lun)

Kim Lun

Last Done: RM2.28

Further uptrend is expected as the stock yet to have any indication of exhaustion. The immediate support is seen at Fibonacci level of 78.6% (RM2.23).

The immediate support is seen at RM2.20, followed by RM2.00 and the immediate resistance is seen at RM2.50, followed by RM2.80 level. 

FKLI

Cautious… 

The FKLI has been trading within the range of 1720 – 1790 for the past 2.5 months, the recent breakout of 1790 might indicate further north side trading, especially with 4 days of candlestick trading above the 1790. Thus, this should attract us to be more conservative when initiating short position. 

However, since the RSI is approaching 71, this might be an indication of the toppish for the FKLI. Any short position should only come in if the index retraced below 1800 level, else, higher risk an investor will need to bear. 

FCPO

Opportunity to Initiate Long Position

View maintained as the FCPO is approaching its reliable support level (2215), a level that has been tested for the past 4 times.The current level should serve as a good level to initiate long position with stop loss being set around 2190 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 immediate support is seen at 2215 level, followed by 2200 level and the immediate resistance is seen at 2250 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.