FKLI
FKLI Spot Month Futures - 17 January 2024
Wed, 17-Jan-2024 08:54 am
by Dealing Team • Apex Futures

FKLI
Pivot
1499
Resistance
1504 / 1512 / 1525
Support
1491 / 1486 / 1473
Possible Range
1486 to 1504
Strategy
Long positions may be opened above 1499 with targets at 1509/1515 and stop-loss at 1494
Short positions may be opened below 1499 with targets at 1493/1482 and stop-loss at 1504

FKLI Jan month fell 7.5 points or 0.50% to 1496 closed lower. Bursa Malaysia ended lower on Tuesday on profit taking in tandem with its regional peers, a retracement after closing above the 1,500 psychological barrier on Tuesday.

Overnight Dow Jones fell 231 points. U.S. stocks ended lower on Tuesday after mixed earnings from Morgan Stanley and Goldman Sachs pressured banks, and as sell-offs in Boeing and Apple weighed on the S&P 500.

Following the bearish performance of the US market, the FKLI could trade lower. A break below 1493.5 (yesterday's low) would target 1491/1486. On the flip side, the next resistance is located at 1499 (Pivot), followed by 1504 (R1), and finally 1506.5 (Yesterday’s high).

FKLI : 富时隆综指 (-0.48%) 在获利回吐活动发生后回落。

做多策略 :可在1499上方做多,目标价 1504/1512,止损位1494
做空策略 :可在1499下方做空,目标价 1491/1486,止损位1504

(News Source: The Edge; 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 4.186344 4.224837
EUR 4.692802 4.707788
CNY 0.594564 0.595974
HKD 0.537155 0.542118
SGD 3.243708 3.273864