24th July, Tuesday (CSL)

CSL

Last Done: RM1.02

It is worthwhile to take a look at this stock as it is approaching its par value and the important support level. Investors can take a risk by initiating fresh position with stop loss being placed around RM0.90 level and first profit taking level being placed around RM1.30 for short term trading.

The immediate support is seen at RM0.97 level and the immediate resistance is seen at RM1.35, followed by RM1.60 level.

FKLI

Retracement Resume…

The minor retracement is expected to resume with the immediate support at 1620 level (SMA 20). Not much to expect from the market as the index will trade in a tight range trading (within 1620 to 1640 levels).

Short term short position remains preferred at the moment with the immediate support is seen at 1620 level and the immediate resistance is seen at 1650 level.

FCPO

Free Fall…

As mentioned, so long the 3000 level not able to be supported, we shall see the free fall for the FCPO to 2850 level. Those who have shorted previously should consider to take your first level of profit around 2850 level. SMA 200 level remains tough at the moment and we shall expect the FCPO to hover around 3150 to 2850 levels for the near future.

The immediate support is seen at 2850 level, followed by 2750 level and immediate resistance is seen at 3000 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.

23rd July, Monday (DJIA)

DJIA

Immediate Resistance – 13000 Level!

13000 level remains tough for the DJIA, provided the mentioned level can be taken over, else, not much to expect and we shall see the DJIA to hover within the 12550 level to 13000 level. For the week, the immediate support is seen at 12700 level, followed by 12550 level and the immediate resistance is seen at 13000 level, followed by 13200 level.

I will cover CSL tomorrow.

FKLI

Immediate Resistance – 1650 Level!

Overall uptrend remains intact at the moment, however, expecting some minor retracement in the near future. The immediate resistance is at 1650 level, taking over the mentioned level will see the index to move further towards north. Short term short position is preferred with the stop loss level being placed around 1660 level and first profit taking level around 1625 level.

For the week, the immediate support is seen at 1620 level, followed by 1600 level and the immediate resistance is seen at 1650 level, followed by 1670 level.

FCPO

Important Support – 3000 Level!

The FCPO will need to support above the 3000 level, else, we shall see the free fall for the FCPO down to 2850 to 2750 levels. SMA 200 level remains tough at the moment and we shall expect the FCPO to hover around 3150 to 2850 levels for the near future.

For the week, the immediate support is seen at 3000 level, followed by 2850 level and immediate resistance is seen at 3150 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.