FKLI
FKLI Spot Month Futures - 20 Nov 2024
Wed, 20-Nov-2024 08:07 am
by Dealing Team • Apex Futures

FKLI
Pivot
1603
Resistance
1607 / 1612 / 1618
Support
1601 / 1597 / 1594
Possible Range
1600 to 1620
Strategy
Long positions may be opened above 1604 with targets at 1607/1612 and stop-loss at 1599
Short positions may be opened below 1604 with targets at 1601/1597 and stop-loss at 1609

FKLI Nov month rose 2.5 points or 0.16% to close higher at 1604.5. The FBM KLCI finished lower on Tuesday, pressured by late-session selling. Reuters reported that the ringgit is the only Asian currency to have gained so far this year, as the Malaysian economy remains on track to meet official forecasts, reflecting a rise in investments and a boost in domestic spending.

Overnight Dow Jones dropped 120 points to close lower at 43268. The Nasdaq gained more than 1%, and the S&P 500 also closed higher on Tuesday, driven by a surge in technology stocks as investors awaited earnings reports from Nvidia. Meanwhile, Walmart shares rose after the retailer raised its annual forecasts. The Dow, however, ended the day lower.

Tracking mixed performance in overnight US performance, the FKLI could trade within the range of downward channel, the index latest hovering at the middle of the channel, with new support range see at 1602 to 1604, if supported potentially to trade higher, if fail to support could trigger another selling pressure. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1601 and 1607, 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