27th August, Tuesday (FBMKLCI)

FBMKLCI

Let’s look at the overall market instead of individual stock. Overall market remains resilient with the immediate reliable support is seen at 1700 level. The 1700 level should remain as a reliable and strong support level, failure for this level to be supported will trigger massive selling and the next reliable support level can be seen at 1600 level only.

The immediate support is seen at 1710, followed by 1700 and the immediate resistance is seen at 1730, followed by 1750 level.

FKLI

Long Position is Preferred…

FKLI remains having a strong support at 1700 level (SMA 200 & psychological level). It is worthwhile to take a risk by initiating long position with stop loss being set around 1690 level. 

The immediate support is seen at 1700 level, followed by 1680 level and the immediate resistance is seen at 1730 level, followed by 1740 level.

FCPO

Close Monitoring…

As mentioned, if the FCPO managed to take over the SMA 200 (2380 level) convincingly, more upside is expected. However, yesterday gap opening is just the start, investors should monitor the market closely. For those who have initiated your long position previously, you can revise your stop loss level higher to 2390 level.

The immediate support is seen at 2400 level, followed by 2380 level and the immediate resistance is seen at 2450 level, followed by 2500 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.