FKLI
FKLI Spot Month Futures - 22 Nov 2024
Fri, 22-Nov-2024 08:12 am
by Dealing Team • Apex Futures

FKLI
Pivot
1588
Resistance
1594 / 1598 / 1603
Support
1588 / 1585 / 1581
Possible Range
1590 to 1610
Strategy
Long positions may be opened above 1592 with targets at 1594/1598 and stop-loss at 1587
Short positions may be opened below 1592 with targets at 1588/1585 and stop-loss at 1597

FKLI Nov month dropped 7.5 points or 0.47% to close lower at 1587.5. The FBM KLCI dropped for the third straight day on Thursday, pressured by losses in Tenaga Nasional, YTL Power, and YTL Corp, amid weaker regional markets.

Overnight Dow Jones rose 461 points to close higher at 43870. Wall Street's main indexes closed higher on Thursday following a day of choppy trading, with the blue-chip Dow and the S&P 500 reaching one-week highs. The Dow Jones Industrial Average's gains were bolstered by a 3.1% rise in cloud company Salesforce, after three brokerages raised their price targets on the stock.

Tracking positive performance in overnight US performance, the FKLI could trade within the range and remain within downward channel. If breaking above 1592 to 1595 range, we could see further higher to ward next resistant. Beware of any sentiment changes. Immediate support and resistance levels are identified at 1588 and 1594, 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