Highlights

RHB Retail Research

Author: rhboskres   |   Latest post: Thu, 10 Oct 2019, 5:34 PM

 

FKLI - Still Looking Weak

Author:   |    Publish date:


Maintain short positions as the bias for a further retracement remains strong. Yesterday, the FKLI ended its prior two sessions’ mild rebound, shedding 6.5 pts to close at 1,670.5 pts. It generally slid lower, and recorded a high and low of 1,680 pts and 1,667 pts. Overall, there were no price signals to suggest that the retracement leg – which started from the recent failed attempt to breach above 1,729 pts – has ended. Instead, the prior two sessions’ price rebound can be taken as a minor consolidation, before the retracement is resumed. We maintain our negative trading bias on the index.

As technical evidence indicates that the bears are still in control of the market, we continue to recommend that traders maintain short positions. These were initiated at 1,698 pts, the closing level of 1 Mar. To manage risks, a stop-loss can be placed above 1,729 pts.

Immediate support is maintained at 1,631.5 pts, the low of 18 Dec 2018, followed by 1,600 pts. Conversely, immediate resistance is expected at 1,729 pts, the high of 8 Nov. This is followed by 1,749.5 pts, the high of 17 Oct 2018.

Source: RHB Securities Research - 15 Mar 2019

Share this

  Be the first to like this.
 


 

222  168  505  1373 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 NETX 0.025+0.005 
 SAPNRG 0.275+0.005 
 KNM 0.455+0.01 
 ISTONE 0.245+0.02 
 HSI-C7F 0.33+0.015 
 KNM-WB 0.20+0.015 
 MTAG 0.455+0.015 
 VELESTO 0.34+0.01 
 GPACKET-WB 0.3150.00 
 QES 0.20+0.02 

TOP ARTICLES

1. Malaysia Stock Analysis – OCK (0172) Louis Yap Investment
2. OPCOM & NETX: CORE WINNERS OF THE DIGITAL ECONOMY IN LATEST MALAYSIA'S BUDGET, Calvin Tan Research THE INVESTMENT APPROACH OF CALVIN TAN
3. AirAsia’s Santan Restaurant Is Opening at Mid Valley Megamall Good Articles to Share
4. EVERYONE HAS OVERLOOKED THIS NEXT RALLY STOCK AFTER I-STONE! smartinvestment2030
5. HDD STOCK MADE IMPRESSIVE GAIN. Top Pick Of The Day
6. [转贴] MAGNI一天爆跌60%,天哥我这次给你害死了!! ~ 第一天 Good Articles to Share
7. [12Invest] 壹贰讲股 - 浅谈Dayang Enterprise Holdings Berhad(5141) [12Invest] - 壹贰讲股
8. [转贴] [Facebook live video:浅谈KNM Group bhd (KNM)] - James的股票投资James Share Investing James的股票投资James Share Investing
Partners & Brokers