31st July, Wednesday (KPS)

KPS

Last Done: RM1.80

The stock is expected to resume its uptrend with the immediate resistance is seen at RM2.00. Provided the RM2.00 level can be taken out convincingly, else, nothing much to be expected. Any new position initiation can place your stop loss level around RM1.55 (SMA 50), this should serve as a reliable support level, at least for now.

The immediate support is seen at RM1.50, followed by RM1.30 and the immediate resistance is seen at RM2.00, followed by RM2.50.

FKLI

Short Position…

As mentioned, short position can be initiated if the index dropped below 1800 level. Any new position initiation can place your stop loss level slightly above 1800. However, nothing much to be expected as the index will resume in a very tight range trading (1750 – 1800 level).

The immediate support is seen at 1780, followed by 1770 and the immediate resistance is seen at 1800 level, followed by 1810 level.

FCPO

Uptrend Started?

The FCPO closed at the important level that we are looking at – 2215 (a level that never being taken over for the past 4 years). So long as this level can be convincingly being taken over, more uptrend is expected. 

Long position will be preferred with stop loss level being placed around 2180 level.

The immediate support is seen at 2200 level, followed by 2150 level and the immediate resistance is seen at 2215 level, followed by 2280 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.