23rd August, Friday (Tenaga)

Announcement: 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) and this will start next Monday, 26th August 2013. Investors are encouraged to get ready your gmail to enable yourself to be able to access to the messenger.

Tenaga

Last Done: RM8.52

Investors who are having the stock should take extra cautious as this might be the starting of the downward trading. The stock has broken below the SMA 50 (RM8.65) and the next important support level is SMA 100 (RM8.35). Failure for this level to hold might trigger major retracement for the stock.

The immediate support is seen at RM8.35, followed by RM8.00 and the immediate resistance is seen at RM9.00.

FKLI

Long Position is Preferred…

Nothing has changed since yesterday as I am still in the view that FKLI having the same technical landscape as the underlying – strong support at 1700 level (SMA 200 & psychological level). This should give investors a good opportunity to initiate long position. Thus, any drop near to this level should give investors a very good opportunity to initiate long position with stop loss being set around 1690 level. 

Investors who have initiated long position yesterday should consider to take your first level of profit around 1745 level only.

The immediate support is seen at 1700 level, followed by 1680 level and the immediate resistance is seen at 1720 level, followed by 1730 level.

FCPO

Tight Range Trading Resume…

Nothing much to be expected as the FCPO will remain its tight range trading of 2300 to 2380 level (SMA 200). Provided either of the above mentioned level is being taken over, else, nothing much to be expected. However, long position remains preferred with stop loss level being set around 2290 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.