FBM KLCI Daily Chart >>> Support and Resistance 17072013

GOODLUCK

FKLI Preview, Tecknical Outlook 15 July 2013

FKLI Daily technical analysis

The FKLI spot month contract ended slightly higher on Friday which was in tandem with the rise in benchmark index. At the close, the FKLI price up 1.5 points or 0.08 % to 1,789.5.

Based on the daily chart, a small positive candle with lower wick has been formed on Friday where it indicated that the FKLI price was supported at the intraday low level. As we can see in the chart, the price traded in a narrow range after it rose sharply on Thursday. However, the price still managed to stay above the support line for second day. The FKLI price may rise further if it is able to stay above the support line in the coming days.

Referring to the MACD histogram, rounding bottom is forming up. As always, intraday support and resistance levels will be eyed.

Technical indicators

 

MACD= Positive, ADX= Positive，

Intraday technical support & resistance for 15th July 2013

 

1st support 1,785; 2nd support 1,780-75

1st resistance 1,793, 2nd resistance 1,800

GOOD LUCK

FBM KLCI Preview, Technical Outlook 11 July 2013

Stocks ended off earlier highs on Wednesday, after initial optimism from overnight Wall Street strength was overshadowed by weaker export numbers from China which confirmed the world's second largest economy is slowing more rapidly. The KLCI still closed up 2.22 points at 1,768.71, off an early high of 1,771.24 and low of 1,766.67, as losers beat gainers 441 to 308 on slower trade totaling 1.22bn shares worth RM1.7bn.

Blue chips should continue to be range bound with upside capped amid cautious trade in the near-term, given the weaker-than-expected economic data from China dampening the growth outlook in the region.

Key immediate support for the KLCI stays at the 50-day moving average, now at 1,765, while a breakdown will grease correction towards 1,738, the 38.2%FR of the 1,597 low to 1,826 peak, , with 1,723 and 1,718, the highest point prior to 13GE, acting as stronger support buffers. On the upside, immediate resistance stays at 1,791, the 138.2%FP, followed by the 1,800 psychological level.

 

 

HAPPY TRENDING

FBM KLCI Futures Preview, Technical Analysis 11 July 2013

Preview

Expect futures to trend higher today despite minimal gains in the US market overnight as local sentiments may look towards bullish signals due to encouraging announcement by the Federal Reserve Chairman.

Bernanke’s comments that the Feds will continue its bond buying activities up till the labour market show significance improvement may correlate easing concern of a slowdown in growth in the world biggest economist.

Back home, FBMKLCI gained 0.13 percent to settle at 1768.71. The index traded range bound with an upward bias for most part of the day as sentiments borrowed strength from gains in the US, spurred by better expectations of earning results. Adversely, the upside potential was limited as investors factored in weak external trade data from China, which was made available on the second half of the trading session.

Leading leaders of the index were a mixture of gaming, plantation and telecommunication counters namely Genting, IOI and Maxis. Futures still maintain trading at a premium of approximately 1.5 points from its underlying cash market.

Technicals

Futures settled on a positive note with gains of 0.06 percent to close the day at 1770. Trading was depicted in the formation of a short bodied black candle signalling that sellers managed to outpace buyers for most part of the day. Sentiments remained generally bullish as prices still remains supported at its 20 and 50 day moving averages.

Prices may open lower but if prices managed to break above its 1770 in early morning trades, investors may opt to go long taking advantage of an upward movement in prices. As such support and resistance can be pegged at 1765 and 1780 respectively.

Intraday Strategy

Trade may long with a stop on or below 1760.

FBM KLCI Futures >>> Daily Preview, Technical Analysis

Preview

 Expect futures to trade range bound with an upward bias in tandem with rising Asian and European markets after European policy makers communicated that they will maintain interest rates at a record low for an extended period of time to stimulate further growth. US market was closed last night in conjunction with the Independence Day holiday. Jobless claims figures due to release later tonight will be closely watched for indication of economic strength.

In the local front, FBM KLCI gained 0.12 points to settle at 1771.34. The local index managed to post some gains in tandem with advances in most global markets, albeit lackluster trades.

Leading leaders were stocks from the plantation and banking industries, namely Kuala Lumpur Kepong, IOI Corp, CIMB, Maybank, Public Bank, and Hong Leong Bank. Futures now trade at a further premium of approximately 4 points away its underlying cash index.

Technicals
Futures prices hiked 0.31 percent to close at 1775.50. Trading activities formed a white spinning top, a depiction of indecisiveness amongst investors. Regardless, prices still managed to close firmly above its 20, 50, and 100 day moving averages, which imply that strength was still in tact. Hence, expect prices to further its bullish movement today as MACD indicator pointed towards a buy strategy as well.

Support and resistance can be eyed at 1765 and 1785 respectively.

Strategy

Traders may long with a stop on or below 1765.

FKLI to test 1720/17 Support soon

Market Previews

Locally, the FBM KLCI shed 0.55 percent to settle at 1728.64. Losses were in correlation with faltering bourses around the globe which were led by the steep sell-off in Chinese shares. Stocks in China extended a bear market decline on concern that tight credit will deepen the nation’s economic slowdown.

Heavyweight losers locally were stocks from the consumer, banking and energy industries, namely UMW Holding, Hong Leong Bank, Maybank, Public Bank, CIMB, Ambank, Sapura Kencana, PETRONAS Gas and Petronas Chemical. Futures were still traded at a premium of circa 2 point above its underlying cash market.

 

Technicals

Futures prices wilted 0.49 percent to close at 1730.50. Trading activities formed an inverted black hammer, which is considered a bottom reversal sign. Moreover, prices settled below its 20 and 50 day moving averages for the second consecutive day, signaling price weakness. Hence, expect technical buying to push prices upwards today to test its 50 day moving average as bottom feeders take advantage of weak prices.

 

Technical indicators:

 MACD= Negative, ADX= Positive

 

 

 

 

Intraday technical support & resistance for 25th June 2013

 

 1st support 1,720-17; 2nd support 1,700

 1st resistance 1,740, 2nd resistance 1,745-50

Recommendations

Traders can attempt a LONG FKLI at Support 1720/17 with a cutloss at 1710

FBM KLCI in danger of closing bullish GE 13 gap

Bursa Malaysia shares slumped in line with regional losses led by China which tumbled 6.3% amid concerns a credit crunch and scaling back of stimulus by the US Federal Reserve will hurt economic growth. The KLCI fell 17.66 points to settle near session lows at 1,738.19, off an early high of 1,756.02, as losers trashed gainers 797 to 121 on active trade totaling 1.67bn shares worth RM2.18bn.

Concerns over faltering economic growth in China due to a credit crunch and foreign fund flows back to the US should continue to adversely impact near-term sentiment. Hence, there could be further downward correction for the index to close the post 13GE gap-up with next support coming in at 1,718, the high prior to 13GE.

 

More significant retracement supports of the 1,597 low (7/2/13) to 1,826 high (6/5/13) are at 1,711 (50%FR) and 1,685 (61.8%FR) matching the 3 May low.

 

Immediate resistance stays at 1,772 (23.6%FR), with next resistance at 1,792, followed by the 1,800 psychological level.

 

HAPPY TRADING

FCPO : Better Export Numbers Expected Today, Prices Sustainable

Fundamental

Palm oil settled slightly higher as estimates of slowed domestic production and higher demand lead to positive price outlook.

Positive undertone in the competing soyoil in Asian trading hours coupled with the significant rise in Indonesian palm oil exports in May, helped strengthened sentiment which continued to hold the market firm. In addition, weaker Malaysian ringgit was seen as another supportive influence.

Meanwhile, investors will look closely on June 1-20 day export estimates out later today. NYMEX crude retreated alongside the external markets as US Federal Reserve signals on reducing bond purchases later this year sparked selling across equity and commodity markets. Additional pressure stemmed from an unexpected build up in US crude inventories according to EIA weekly report, contrasted with earlier API report that showed a decline. US soyoil soared on lower forecast of soybean plantings and yield in both US and Argentina.

Expect palm oil futures to trade higher in anticipation of an encouraging export figures to be released today.


Technicals

Futures gained 4 points to settle at 2472. Prices opened lower tracking overnight weakness in CBOT soyoil and Dalian palm oil. Futures were then traded with a downward bias throughout the morning session within narrow range as investors opted to be cautious.

 

However, futures recovered on speculative buying which lifted prices to revisit 3-month high and towards positive territories into the close. Formation of a larger white candle indicates a stronger buying force in the current uptrend. Expect positive fundamental outlook and technical strength to keep the buying momentum.

 

Referring to the MACD histogram, it is building up in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical indicators:

MACD= Positive, ADX= Positive

Intraday technical support & resistance for 20th June 2013

1st support 2,450; 2nd support 2,435-20

1st resistance 2,480; 2nd resistance 2,500

As such support and resistance can be pegged at 2450 and 2500 respectively.

Strategy

Trade may long with a stop on or below 2450.

FCPO : Optimistic Upside Ahead of Ramadan Month

HOURLY CHART CONTINUES MID-MAY REBOUND

ITS REPORT — Malaysian palm ITS REPORT — Malaysian palm oil product export for June 1-15 up 18% to 709,860 metric tons from 599,300 metric tons shipped during May 1-15 oil product export for June 1-15 up 18% to 709,860 metric tons from 599,300 metric tons shipped during May 1-15 

GOOD LUCK

Gold: Two elephants in a lifeboat

Who's rocking the boat? 

There are currently two players destabilizing global financial markets — like elephants in a lifeboat.

One is the Bank of Japan, with markets uncertain as to how massive expansion of the monetary base will play out.

The second is the Fed, where hints of a taper were enough to send the market into a panic, forcing the Fed to tone down its rhetoric. Emphasis now is on marginal rather than sizable decreases in QE.

Gold broke resistance at $1400, respecting primary support at $1320 and headed for another test of $1500. Uncertainty is high with the metal as likely to break resistance at $1500, signaling a primary up-trend, as to break primary support, which would offer a target of $1200*.

GOOD LUCK 

FCPO >>> Commentary and Technical Analysis 27 May 2013

FCPO Daily technical analysis:
The FCPO active month contract managed to end in the positive territory after it swung between gains and losses on Thursday. At the close, the FCPO price added 11 pts or 0.47% to 2,370.

A white candle with long lower shadow was formed as prices traded lower but were lifted by aggressive buyers in late trading hours to erase losses and finished at near intraday
high. Prices closed firm above 20 and 50 day moving averages, a sign of the domination of bulls in the market. MACD also supports the bullish trend signal by staying on its bullish journey and rising steadily. As such support and resistance can be pegged at 2342 and 2400 respectively.

Based on the daily chart, a positive candle with long lower wick has been formed on Thursday where it indicated the FCPO price was supported at the intraday low level.

During the trading session, the FCPO fell to as low as 2,342 due to uncertainty in the external markets which weighed on the market sentiment. As we can see in the chart, the price is unable to break above the level of 2,380 on Thursday. To rise further, it needs to break and closes above that mentioned level.

Referring to the MACD histogram, it is building up in the positive zone. As always, intraday support and resistance levels will be eyed.

Technical indicators:
MACD= Positive, ADX= Positive,

Intraday technical support & resistance for 27th May 2013:
1st support 2,342; 2nd support 2,330-00
1st resistance 2,380-90; 2nd resistance 2,400-15

Strategy

Trade may long with a stop on or below 2342.

FKLI >>> Technical Outlook 23 May 2013

Technicals
Expect futures prices to succumb to further profit taking today ahead of the extended weekend. BSKL will be closed for Wesak Day on Friday.

Futures prices cascaded 0.64 percent, closing at 1776. Trading activities formed a black candle with long upper shadow, implying that
gains posted in the earlier trading session were not sustained. This formed a bearish harami which indicates further downward potential.

The downward price movements managed to bring RSI indicators down from a previously overbought situation.

Additionally, MACD indicators is currently neutral, a signal that bullish momentum is waning. As such, range for the day can be eyed at 1760 and 1785 respectively.

Intraday technical support & resistance for 23rd May 2013:

 1st support 1,770; 2nd support 1,765-60

 1st resistance 1,785, 2nd resistance 1,796-1800

Strategy

Trade may short with a stop on or above 1785.

GOOD LUCK 

FKLI down 0.79% to 1765 on profit taking

FKLI Daily technical analysis:
 The FKLI spot month contract ended sharply lower on Thursday due to Malaysia GDP released worse than expected which had dampened the market sentiment. At the close, the FKLI price dropped 14 pts or -0.79% to 1,765.

 Based on the daily chart, another long negative candle has been formed on Thursday where it indicated sellers remained aggressive throughout the day. During the trading session, the FKLI price went down to as low as 1,762.5 where it had tested the range support level. On the other hand, we should monitor closely whether the price is able to stay above the level of 1,760. If the price breaks and closes below this level, it may drop further.

 Referring to the MACD histogram, a rounding top is forming up. As always, intraday support and resistance levels will be eyed.
Technical indicators:

 MACD= Positive, ADX= Positive，

Intraday technical support & resistance for 17th May 2013:
 1st support 1,760-55; 2nd support 1,750-40
 1st resistance 1,775-80, 2nd resistance 1,786-96

KPS (5843) to retest support before advancing

KPS (5843)
KPS has tested the support of 1.17. It is important to monitor the price volume action near this 1.17 level to determine whether the rebound is sustainable. PARABOLIC SAR

One of the most important aspects of this indicator is to keep in mind, that the positioning of the "dots" (aka bubbles) is used by traders to generate transaction signals depending on where the dot is placed relative to the asset's price. A dot placed below the price is deemed to be a bullish signal, causing traders to expect the momentum to remain in the upward direction. Conversely, a dot placed above the prices is used to illustrate that the bears are in control and that the momentum is likely to remain downward.

GOOD LUCK 

FCPO, FKLI Previews and Commentaries 14 May 2013

Fundamental
Palm oil prices tumbled on profit taking after having reached one-month high in early trading hours. Pressure also came as lower domestic inventories outweighed by high stock level at China and India which triggered concerns about limited palm oil demand from these major importers. NYMEX crude posted losses on third consecutive trading day on China’s oil demand which fell to 8-month low in April as industrial output expanded at slower pace than expectation.

Prices received additional pressure after robust US retail sales sent dollar higher as it would bring negative impact to commodity prices. Investor now await cue from API oil data due later today and EIA data on Wednesday. Despite the poor weekly soybean exports, US soyoil ended higher on strong cash market and spillover effect from short covering rally in corn.

Expect CPO futures to trade higher as palm oil trading at discount to other edible oils amid speculation over a possible drawdown in inventories in Indonesia, the world’s largest palm oil producer, to a 6-month low as consumption increased.

Overnight Leads

Soybean futures on the Chicago Board of Trade rose on Monday on firm cash markets and

tightening U.S. supplies, lifting the spot contract to a six-month high, traders said.

Technicals
Futures settled at 2310, down 9 points. A black candle was formed as prices opened higher but upward movement was not sustainable, as stronger sellers have taken control of the market for the day. However, prices remained position above 20 day moving averages and MACD on
its bullish journey, therefore bulls remain in firm on technical grounds. As such support and resistance can be pegged at 2300 and 2335 respectively.

Technical indicators:
 MACD= Positive, ADX= Neutral,

Intraday technical support & resistance for 14/05/2013:
 1st support 2,300; 2nd support 2,270
 1st resistance 2,335; 2nd resistance 2,380-2400

Strategy

Trade may long with a stop on or below 2270.

ZLBT's Random Stock Pick 27 Apr 2013 >>> TOMYPAK (7285)

TOMYPAK has been trading above its upward sloping 50-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 1.30 & 1.38 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful 1.80 target.

 TOMYPAK 's FA looks pretty enough?
Note EPS & PE

RECOMMENDATIONS

BUY ON DIPS

Cutloss 1.30

Target 1.80 

GOODLUCK 

Technical Analysis : FBM KLCI persist in consolidation mode

FBM KLCI Technical Analysis : The Fibonacci Retracement Support & Resistance

The stubbornly overbought technical momentum and also weakening trend indicators for the benchmark FBM KLCI are suggesting the current uptrend is waning. Hence, we expect further profit-taking consolidation this week until overbought momentum has been neutralized.

Moreover, weak buying momentum last week, as most investors were sidelined ahead of the nomination of candidates for the 13th general elections, suggests that the current subdued trading sentiment could persist up to election day.

As for the index, immediate support will be at the previous 1,699 record high of Jan 2013, matching the rising 10-day moving average and last Tuesday’s low of 1,688. Stronger retracement supports remain at 1,658, representing the 23.6% Fibonacci Retracement (FR) of the 1,526 low of May 2012 to the 1,699 record high of Jan 2013, and 1,633, the 38.2%FR matching the recent pivot low as strong downside buffer. 

Immediate resistance would be at the intra-day record high of 1,716, while a breakout would target the upper Bollinger band at 1,722, and then 1,740, 123.6% Fibonacci Projection (FP) level.

FCPO : Technical Analysis 17 Apr 2013

FCPO Daily Technical Analysis
 The FCPO active month contract ended off low on Tuesday due to electronic soybean oil prices traded sharply higher during the Asian trading session had supported the FCPO price. At the close, the FCPO price was flat at 2,301.

 Based on the daily chart, a small positive candle has been formed on Tuesday where it indicated that buying interest emerged at the intraday low level. During the trading session, the FCPO price had tested the intraday first support level but it did not break below that level. If the price is able to stay above this level in the coming days, there is a high possibility it may rise further.

 Referring to the MACD histogram, it is building up in the negative zone. As always, intraday support and resistance levels will be eyed.

Technical indicators:

 MACD= Negative, ADX= Negative

Intraday technical support & resistance for 17/04/2013

 1st support 2,285; 2nd support 2,228-15

 1st resistance 2,340; 2nd resistance 2,380

Recommendations

Sell Into any Rebound High 

CPO Analysis For The Week Ahead 08 Apr 2013

CPO Technical Outlook

The benchmark June contract was consolidating this week and some trad­ers were cautious ahead of key fundamental reports and preferred to stay on the side-lines.

Last week’s palm oil price movement showed that the market was directionless while waiting for the fun­damental reports next week to gauge on the next price movement.

The benchmark level of RM2,360 will continue to be monitored to determine if the palm oil prices could be supported at this level.

Any price break below RM2,340 would attract more technical selling and long liquidation in the market.

Resistance would be pegged at RM2,430 while support will be set at RM2,340.

In addition, the increase worries on the bird flu outbreak in China also con­tributed the fall in soybean prices which could reduce the demand in feeds. 

Recommendations 

Sell Into Strength 

FKLI Spot >>> Technicals & Commentary 02 Apr 2013

FKLI Daily Technical Analysis
The FKLI spot month contract ended off low and it managed to close in positive territory on Monday. Meanwhile, cash market closed down 4 pts to end at 1,667.6 points. At the close, the FKLI price was up 3 pts or 0.18% at 1,664.5.

Based on the daily chart, a small negative candle with long lower wick has been formed on Monday where it indicated that price was supported at the intraday lowest level. During the trading session, the FKLI price fell to as low as 1,652 where it hit the 38.2% of Fibonacci level but later it managed to bounce up and closed near the intraday highest level. As we can see in the chart, the FKLI price currently consolidating in a narrow range and we should monitor closely what type of formation it will form in the near term.

Referring to the MACD histogram, rounding top is forming up in the near term. As always, intraday support and resistance levels will be eyed.

Technical Indicators

MACD= Positive, ADX= Positive，

Intraday Technical Support & Resistance for 2/42013

1st support 1,652; 2nd support 1,643

1st resistance 1,678-82, 2nd resistance 1,690