9th July, Tuesday (UEM Land)

UEM Land

Last Done: RM3.07

The immediate reliable support is at RM3.00 to RM2.85 level (Fibonacci level of 61.8% & SMA 100). Investors who want to accumulate position can take the above mentioned levels as a reference for placing stop loss.

The immediate support is seen at RM3.00, followed by RM2.80 and the immediate resistance is seen at RM3.60, followed by RM4.00 level. 

FKLI

Sell on Rebound…

The FKLI is expected to resume its range trading of 1750 to 1790 levels, any drop below/ above the range mentioned above might cause a strong trend towards respective direction.

Any rebound above 1780 should serve as a good level to initiate short position with stop loss level being set around 1795 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 1760 level, followed by 1750 level and the immediate resistance is seen at 1770 level, followed by 1780 level.

FCPO

Range Trading of 200 Points…

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 2250 level only. Any dropped below the mentioned level should serve as a good level to initiate long position with stop loss being set around 2200 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.