23/3/2018

 

FKLI Mar 18

 

Previous Close: 1873 +10

 

FKLI closed at higher high yesterday above 1870 as boosted by continuous foreign fund buying, marked a straight 4 days of gains. However, US stock market fell sharply yesterday on a trade war, expect FKLI to open low and back to side way range later.

 

Daily & hourly charts show FKLI test to break out from ascending triangle pattern. But be cautious as there is divergence in daily chart and hourly's RSI in overbought.

 

 Classic Support & Resistance 

Resistance: 1875 1885

Support: 1860 1850.5 1838.5

 

 Recommend Trading Plan for the day: 

1. Sell 1867, stop 1874, profit 1860/1853.

2. Look for buy signal if break higher high above 1875.

3. Look for further entry signal if open low below profit target 1 of plan 1.

 

 FKLI Margin Requirement 

Intraday     MYR 2000

Overnight  MYR 4000

Spread       MYR 500

 

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