FKLI Updates
Daily Futures Commentaries: [FKLI Malaysia Index] 22/3/2019 - Sharp fall yesterday, below 1656 for more downside, watch out technical rebound
InvestorsDoctor
Publish date: Fri, 22 Mar 2019, 08:38 AM
InvestorsDoctor
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Here we update timely info about FKLI
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22/3/2019
*FKLI Mar 19*
Previous Close: 1662 -19
FKLI plunged to near 2 week low as dragged down by mainly banking stocks on worries of windfall tax. However, foreign fund remain as net buyer and US stock market recovered more than 200pts yesterday, FKLI may gap up and test rebound 1st.
Daily chart testing to form H&S bearish signal, close below 1656 to trigger more downside, while hourly chartalso showed a bearish signal with long black candle, watch out as RSI approaching oversold, may trigger technical rebound in short term.
*Classic Support & Resistance*
Resistance: 1670.5 1687.5
Support: 1656 1641
*Recommend Trading Plan for the day*
1. Buy 1664 for technical rebound, stop 1659, profit 1669/1674/1679.
2. Sell 1655, stop 1658, profit 1652/1649/1646.
*FKLI Margin Requirement*
Overnight MYR 4000
Spread MYR 500
Disclaimer: Idea sharing only, trade at your own risk.
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Daily Futures Commentaries: [FKLI Malaysia Index] 30/12/2019 - 1595 or 1620 wait for breakout
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