16th August, Friday (DJIA)

Announcement:

1)      Please be informed that there will be no daily market outlook for the coming 2 trading days as I will be away, however, stocks and futures’ research report/ market outlook from our company will remain available for your reference. You can re-access to this site starting 21^st of August 2013, Wednesday.

2)      In view that they are increasing important questions being raised, I decided to open up the messenger starting 830am each morning for half an hour (830am – 9am). This will start next Monday, 26^th August 2013. Investors are encouraged to get ready your gmail to enable yourself to be able to access to the messenger.

DJIA

Let’s have a look at DJIA since the index suffered more than 1% dropped yesterday. Overall technical landscape remains healthy at the moment as the index stays above the SMA 100 (15100). However, investors will need to take extra cautious as the index will need to stay above this level to avoid major retracement. This is the level that never being taken out since the start of 2013.

The immediate support is seen at 15000, followed by 14800 and the immediate resistance is seen at 15200, followed by 15300 level.

FKLI

Hold on to Short Position…

Those who have initiated your short position previously, as usual can hold on to your position and to take your first level of profit around 1760 level. The index is expected to resume its range trading of 1750 to 1790 levels.

The immediate support is seen at 1780 level, followed by 1760 level and the immediate resistance is seen at 1790 level, followed by 1800 level.

FCPO

Supported at 2300 Level?

The FCPO sustained above the 2300 level might indicate further upward trading is expected, at least until the next tough resistance – SMA 200 level (2380). 

As mentioned, so long as 2300 level can be convincingly taken over, more upward trading is expected. Long position will be preferred with stop loss level being placed slightly below 2300 level. 

The immediate support is seen at 2300 level, followed by 2270 level and the immediate resistance is seen at 2350 level, followed by 2400 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.