U.S stocks slumped more than 3.5% on black Monday with high volume as fear of slowing growth in China exerted pressure to the global market.
Hang Seng expected to have another round of gap-down in the morning as after hour trading continue to move down.
Plan A : Overnight seller hold on to position. Resistance is looking at 22048. Target is 20209.
Plan B : Intraday investor may sell if market could rebound and resist at 21314. Target is 20209. Advisable to stay out.
Plan C : Buyer stay out of market.
Plan D : Above 21300, do nothing.
Plan E : Below 21000, do nothing.
FKLI
Market continue to head down South after opening and today, it could be another round of downturn. Intraday investor may be cautious as market has plunged quite a bit.
Plan A : Overnight seller hold on to position. Resistance is looking at 1522 and 1535. Target is 1483 and 1462.
Plan B : Buyer may stay out of market.
Plan C : Intraday investor may sell if market rebound and resist at 1511.5. Target is 1483.
Plan D : Above 1512, do nothing.
Plan E : Below 1500, do nothing.
FCPO
FCPO leading the way down breaking the low since September 2014, giving a new record of 1904. Dalian and soybean oil are weak today while Ringgit stays at RM 4.22 against the US Dollar.
Plan A : Overnight seller hold on to position. Resistance is looking at 1986. Target is 1897 and 1805.
Plan B : Intraday investor may sell if market could rebound and resist at 1959, Target is 1989.
Plan C : Buyer may stay out until market stabilized. Will keep you informed.
Plan D : Above 1960, do nothing.
Plan E : Below 1900, 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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