11th September, Wednesday (Air Asia)

Announcement:

Please be informed that there will be no daily market outlook starting tomorrow until next Tuesday 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 18^th of September 2013, Wednesday.

Air Asia

Last Done: RM2.58

Any new position initiation, investors should take the recent low (RM2.35) as a reference for placing stop loss. Sideways trading is expected to resume, provided the stock able to take over the Fibonacci level of 23.6% (RM2.65).

The immediate support is seen at RM2.35, followed by RM2.00 and the immediate resistance is seen at RM2.85, followed by RM3.00.

FKLI

Upward Trading…

Shortist should not initiate short position at this moment as the index yet to show any turning sign. Although the overall uptrend is not strong, the upside is expected to resume. Investors who initiated long position previously can revise your stop loss higher to 1745 level. Any level near to 1800 will only give investors an opportunity to initiate short position.

The immediate support is seen at 1750 level, followed by 1740 level and the immediate resistance is seen at 1780 level, followed by 1800 level.

FCPO

Hovering around SMA 200…

FCPO closed below the important support level – SMA 200 (2380) for the first time in 2 weeks. Investors should stay on bay for the remaining of the week as the uncertainty of the market direction for the FCPO, especially for short term traders.

If the FCPO can regain its posture above the 2380 level, the FCPO is expected to resume its uptrend, else, the downward trading is expected to set in.

For risk averse investors, intraday position should prioritize short position instead of long position.

The immediate support is seen at 2350 level, followed by 2330 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.