FKLI
FKLI Spot Month Futures - 27 Nov 2024
Wed, 27-Nov-2024 08:11 am
by Dealing Team • Apex Futures

FKLI
Pivot
1601
Resistance
1604 / 1608 / 1611
Support
1601 / 1597 / 1593
Possible Range
1595 to 1615
Strategy
Long positions may be opened above 1599 with targets at 1604/1608 and stop-loss at 1594
Short positions may be opened below 1599 with targets at 1597/1593 and stop-loss at 1604

FKLI Nov month rose 1.5 or 0.09% to close higher at 1602.5. The FBM KLCI trimmed some of its gains but stayed above the 1,600-point psychological level, supported by the stability of index-linked stocks.

Overnight Dow Jones rose 123 points to close higher at 44860. Wall Street stocks, spearheaded by the S&P 500 and Nasdaq, closed higher on Tuesday as technology stocks made a comeback. Investors absorbed President-elect Donald Trump's tariff promises to major trade partners and reviewed the latest minutes from the Federal Reserve.

Tracking positive performance in overnight US performance, the FKLI could open higher. The index remains trading within a downward channel in daily chart, currently moving toward upside bias and forming higher low, potential for further upside. We see the crucial support at 1599 to 1601, supported above this range could remain buy plan. Immediate support and resistance levels are identified at 1601 and 1604, 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 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332