Market Report for 7 January 2019

KLSE

DUFU TECHNOLOGY BHD

· Trading strategy: Dufubhd, stock price shows a bullish reversal price action in daily chart .Intraday we seen a reversal dragonfly candle which suggesting buy signal as well indicator RSI,ADXalso suggesting buy signal .. we are bullish in Dufubhd and our next target is RM 1.770 with holding stop loss RM  1.480.

GOLD

· Trading strategy: GOLD  price where testing the resistance  at  1298.28 . we are  expecting gold price  Bullish trend in intraday trading while EMA 50 , RSI  suggesting  bullish Diversion which suggesting buy signal  with  target  1300.0 to test the Resistance zone .

USD/CAD

· Trading strategy:GBP/USD  price shows a bullish  trend . while in h4 chart where suggesting inverse head & shoulder pattern which suggesting buyl signal  with next target is 1.2800  with holding stop loss above  1.2720.

On Thursday, FKLI closed at 1680, a gain of 9 points from the previous close of 1671. The daily traded volume is 15,293 and is significantly higher than the average 5-days traded volume of 10,572.

· FKLI opened at 1684, a gap-up of 13 points from the previous close indicating early bullish momentum from the market. During the morning session, the market was muted as the price traded sideways between 1682 and 1687.5. In the afternoon session, the market traded lower to retest the 1680 level but failed to break below it due to the ongoing bullish momentum. Hence, the overall market sentiment remains bullish provided that the immediate support of 1670 is intact.

· Trading strategy: On Friday, FKLI is expected to retest the first support at 1680. If the price breaks below this level, FKLI is expected to trade lower to the second support at 1670. Otherwise, the price may trade higher to the first resistance at 1690. ·

  Intraday technical support & resistance for 04 Jan 2019: First resistance  at 1690. Second resistance at 1700. First support  at 1680. Second support at 1670.

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