18/4/2018

 

FKLI Apr 18

 

Previous Close: 1883.5 -1.5

 

FKLI closed slightly lower yesterday but able to sustain above 1880, show that trend is more to upside, despite a profit taking by foreign fund. US stock market rebound for another 200+pts, global sentiment remain positive. FKLI may gap up later and test higher high. Watch out for inflation rate Mar 18 at 12pm today.

 

Daily chart show FKLI sustain above breakout level from previous ascending triangle pattern, but be cautious as there is a bearish RSI divergence. 

 

 Classic Support & Resistance 

Resistance: 1889 1900

Support: 1879 1863.5  

 

 Recommend Trading Plan for the day:

1. Sell 1878 for correction, stop 1884, profit 1872/1866.

2. Look for buy signal if break above 1889.

3. If price retrace 1st, buy 1872 or below, stop 1867, profit 1877/1882.

 

 FKLI Margin Requirement 

Intraday     MYR 2000

Overnight  MYR 4000

Spread       MYR 500

 

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