Fears of a China-led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years on Friday and left the Dow industrials more than 10 percent below a May record.
China stock markets tanked more than 4 percent on Friday, taking weekly losses for the main indexes to nearly 12 percent and casting doubt over Beijing's ability to prevent another bout of panic selling as the market neared collapse again.
Plan A : Above 22630, do nothing
Plan B : Below 22093, do nothing
Plan C : Attempt selling if market fails to hold above 22420
Plan D : Cut above 22575
Plan E : Consider intraday long if market supports above 22093 and rebounds
Plan F : Cut below 22093
FKLI
Market did a remarkable recovery from an intraday low of 1536.5 before pushing to close at near day's high level last Friday. Many investors were being lured to attempt long over the weekend but the heavy fall in Dow and other regional markets plus the fact that RM is trading at 4.22 against USD is going to cause market to open gap down today. Investors without position might want to wait for market to stabilize before taking next trade.
Plan A : Attempt selling around 1553-1556, wait for rebound to sell if market opens way below this level
Plan B : Cut above 1564
Plan C : Intraday buying to be considered only if market holds firm above 1534 and rebounds
Plan D : Cut below 1534
FCPO
FCPO continue to sell down after the rebound at the opening hour. Dalian limit down this morning while soybean oil slumps. Ringgit recorded new low again this morning to RM4.24 and it is the historical low for now. Market is still on its sell trend, therefore, intraday investor might wanna take the chance to sell at rebound.
Plan A : Overnight seller hold on to position. Resistance is looking at 1991. Target is 1936,1898 and 1805.
Plan B : Intraday investor may sell if market could rebound and resist at 1974 or 1986. Target is 1936 and 1904.
Plan C : Buyer stay out of market.
Plan D : Above 1980, do nothing.
Plan E : Below 1930, do nothing.
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*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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