22/3/2018

 

FKLI Mar 18

 

Previous Close: 1863 +15

 

 

FKLI shoot up sharply yesterday ahead of FOMC meeting, as supported by foreign fund buying. Msia inflation rate Feb 18 is 1.4%, lowest since Oct 16. FOMC meeting result in line with expectation, little change to US stock market.

 

Daily & hourly charts in ascending triangle pattern, wait for breakout. Daily's technical indicators show no sign of rebound, may cap upside of index. In hourly chart, FKLI likely to retest previous high around 1875, but RSI in overbought now, be cautious of potential correction.

 

 Classic Support & Resistance 

Resistance: 1875 1885

Support: 1850.5 1838.5 1830

 

 Recommend Trading Plan for the day: 

1. Buy 1868, stop 1862, profit 1874/1880.

2. Sell 1862, stop 1868, profit 1856/1850.

3. Find a buy signal near yesterday low of 1850.5, stop loss if 1850 support violated.

 

 FKLI Margin Requirement 

Intraday     MYR 2000

Overnight  MYR 4000

Spread       MYR 500

 

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