FKLI Updates
[KLCI Futures] - Seasonal January Effect Suggesting Correction
InvestorsDoctor
Publish date: Tue, 02 Jan 2018, 08:52 AM
InvestorsDoctor
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Here we update timely info about FKLI
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2/1/2018
FKLI Jan 18
Previous Close: 1785 +2.5'
FKLI finished higher on last day of 2017 amid of window dressing effect, supported by last minute buying of index stocks. Watch out for historical January effect if index enters correction in this month.
US stock market down for near 120pts on last week and Nikkei manufacturing PMI Dec 17 released this morning show result below expectation, FKLI later may test support 1st. Factors to watch this week included balance of trade Nov 17 at 5 Jan 12PM.
Hourly chart show RSI & MACD crossing down, may trigger a short term correction for index, yet overall remains in rebound stage.
Price Level to monitor today:
Resistance : 1789.5 1800
Support : 1777 1771.5
Recommend Trading Plan for the day:
1. Sell 1784.5, stop 1790, profit 1779.
2. If price retrace 1st, buy 1781.5 or below, stop 1776.5, profit 5 pts or above.
FKLI Margin Requirement
Intraday MYR 1750
Overnight MYR 3500
Spread MYR 500
Disclaimer: Idea for sharing purpose, trade at your own risk.
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