FKLI
FKLI Spot Month Futures - 2 May 2024
Thu, 02-May-2024 07:03 am
by Futures Dealing • Apex Futures

FKLI
Pivot
1580
Resistance
1584 / 1592 / 1605
Support
1572 / 1567 / 1555
Possible Range
1572 to 1584
Strategy
Long positions may be opened above 1580 with targets at 1584/1592 and stop-loss at 1575
Short positions may be opened below 1580 with targets at 1572/1567 and stop-loss at 1585

FKLI May month fell 8 points or 0.50% to 1576.5 closed lower. The FBM KLCI snapped its two straight sessions of gains as investors decided to take some money off the table and YTL Power weighed.

Overnight Dow Jones rose 87 points. A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.

Following the mixed performance of the US market, the FKLI could trade within the range. A break above 1587.5 (Yesterday's high) would target 1592/1605. On the flip side, the next support is located at 1580 (Pivot), followed by 1575 (Yesterday’s low), and finally 1572 (S1).

(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 4.143353 4.175289
EUR 4.627335 4.635403
CNY 0.591281 0.591775
HKD 0.532272 0.535891
SGD 3.214986 3.240064