2/7/2018
*FKLI Jul 18*
Previous Close: 1696.5 +29.5
Foreign fund net buy for the 1st day after continuous sell down, push up FKLI to test above 1700, failed to sustain but closed with sharp gains. US stock market up 50+pts lst week, plus Msia manufacturing PMI above expectation, FKLI likely to continue test rebound.
Daily chart formed a gap up strong bullish candle from RSI oversold, close above 1700 to trigger further buy signal.
*Classic Support & Resistance*
Resistance: 1709.5 1730
Support: 1686.5 1664 1655
*Recommend Trading Plan for the day:*
1. Buy 1698, stop 1694, profit 1702/1706.
2. Look for buy signal if break above previous high of 1701.
3. Look for sell signal if break below 1686.5.
*FKLI Margin Requirement*
Intraday MYR 2000
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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