FKLI
FKLI Spot Month Futures - 13 Nov 2024
Wed, 13-Nov-2024 08:10 am
by Dealing Team • Apex Futures

FKLI
Pivot
1612
Resistance
1612 / 1617 / 1621
Support
1606 / 1602 / 1597
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1612 with targets at 1617/1621 and stop-loss at 1607
Short positions may be opened below 1612 with targets at 1606/1602 and stop-loss at 1617

FKLI Nov month dropped 2.5 points or 0.16% to close lower at 1609. The FBM KLCI ended lower on Tuesday, mirroring regional market trends, as the session saw a mix of activity with more decliners than gainers.

Overnight Dow Jones dropped 382 points to close lower at 43910. Wall Street's three major indexes ended lower on Tuesday as investors took profits from the post-election rally and awaited key U.S. inflation data set to be released later this week. The indexes had surged to record highs since the Nov. 5 U.S. election, fueled by expectations that President-elect Donald Trump's proposed tax cuts and potential regulatory rollbacks would benefit equities.

Tracking negative performance in overnight US performance, the FKLI could continue in downward channel movement, recommended sell on rebound, breaking below 1606 to 1605 could see further lower. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1606 and 1612, respectively.

(News Source: The Star; Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.449296 4.484012
EUR 4.692599 4.701308
CNY 0.615732 0.616932
HKD 0.571606 0.576092
SGD 3.310067 3.336427