Thursday, February 18, 2010

Fcpo wrap....at low amid pre-closing phase selling..




-near record low vol .Seriously, never seen fcpo so stagnant before, especially in the PM session, just like RM5 range, hovering near 2510++. May10 finished at low amid selling in pre-closing causing a RM9 pullback.

- Softer tone, amid SO -1%, on light profit take but “sense” of recent strong run still keeping sellers at the sidelines. May10 did not come close to major support/resistance lvl –therefore boring within 2600-2630.

-above 7SMA is bullish but cautious as mkt is due for a pullback towards 2550++ after a run of almost RM250. Below 2630, negative-bias amid a lack of fresh +ve technical incentives.

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