19/7/2018

*FKLI Jul 18*

Previous Close: 1759 +34

FKLI rallied with a strong gain yesterday to test 1760 level as supported by 1st day of foreign fund buying and rebound of foreign market. Msia inflation rate June 18 fell to below 1% for the 1st time in 40 months after termination of GST. US stock market up nearly 80pts last night, expect FKLI to test resistance 1st.

Daily chart formed a strong bullish candle, break out from upper BB, triggered further rebound signal, but watch out for any technical correction as hourly chart showed FKLI in RSI overbought, with overall trend more to bullish.

*Classic Support & Resistance*
Resistance: 1772 1796.5
Support: 1736.5 1714

*Recommend Trading Plan for the day:*
1. Buy 1760, stop 1756, profit 1764/1768.

*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500

Disclaimer: Idea sharing only, trade at your own risk.

Disclaimer: Idea sharing only, trade at your own risk.

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