2/8/2018
*FKLI Aug 18*
Previous Close: 1783.5 +4.5
FKLI continued to mark higher yesterday, closed above 1780 on the back of foreign fund buying. US stock market dropped 80+ points last night, FKLI may test correction 1st, yet trend is more to upside.
Hourly chart showed more upside ahead but be cautious of potential short term correction as there is a RSI bearish divergence.
*Classic Support & Resistance*
Resistance: 1795.5 1807
Support: 1774.5 1764.
*Recommend Trading Plan for the day:*
1. Look for buy signal if break above 1787.
2. If price retrace 1st, Buy 1778 or below, stop 1773, profit 1783/1788.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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