13/7/2018
*FKLI Jul 18*
Previous Close: 1706 +22
FKLI marked a strong gain yesterday, closed at above 1700 as tracking recovery in global market and as trade war tension eased. Foreign fund remains as net seller, which may limit upside of FKLI. US stock market inched higher for more than 200pts, FKLI likely to continue testing rebound.
Both daily & hourly charts show a breakout from sideway trend, more to bullish, another higher high & low to trigger further buy signal. However, hourly chart showed FKLI approaching RSI overbought zone, watch out for potential technical correction in short term.
*Classic Support & Resistance*
Resistance: 1723 1730.5
Support: 1689 1677.5
*Recommend Trading Plan for the day:*
1. Buy 1709, stop 1704, profit 1714/1719.
2. Watch out for technical correction signal below 1698.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
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