The S&P 500 and Nasdaq posted their largest weekly drops since March on Friday as slowing global growth dragged commodity-related stocks lower while an earnings-fueled drop in Biogen took down the biotech sector.
Hong Kong stocks posted their biggest one-day drop in two weeks on Friday, tracking sluggish overseas markets, and taking cues from a correction in mainland shares.
Plan A : Above 25261, do nothing
Plan B : Below 24941, do nothing
Plan C : Attempt selling if market breaks below 25128
Plan D : Cut above 25261
Plan E : Consider buying if market supported above 24941 and rebounds
Plan F : Cut below 24869
FKLI
Market look destined for a fall despite some last minute buy up last Friday before close. Market is deemed to be weak especially if it stays below 1716-level
Plan A : Attempt selling if market stays below 1716
Plan B : Cut above 1721
Plan C : Intraday buying to be considered if market touch 1703 and rebounds
Plan D : Cut below 1697
FCPO
FCPO loitered around 2186 to 2174 on Friday with little chance of trading opportunity. Dalian and overnight soybean oil are down quite significantly while RM remains at RM3.80 against the greenback. Market might gap down during opening due to weak regional market and it is heading down South.
Plan A : Intraday investor and fresh seller may sell if market could rebound and resist at 2179. Intraday targets are 2150 and 2132. Longer term targets are 2093 and 2077.
Plan B : Buyer may stay out of market.
Plan C : Above 2180, do nothing.
Plan D : Below 2150, do nothing. *Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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