Wall Street ended sharply lower on Thursday as weak earnings reports from media companies stirred fears that more viewers are ditching cable TV, dragging the sector to its worst two-day loss since the financial crisis.
Hong Kong shares fell on Thursday, tracking a slide in China stocks as some investors awaited direction from coming economic data and others remained wary of the mainland market in spite of government support.
Plan A : Above 24530, do nothing
Plan B : Below 24200, do nothing
Plan C : Attempt selling if market stays below 24300
Plan D : Cut above 24360
Plan E : Consider buying if market stays above 24200 and triggers a buy again
Plan F : Cut below 24200
FKLI
Market broke through several major supports yesterday, ended the day with a 36-points loss. Weak Ringgit and political instability could be the catalysts for this drop. Sentiment will be expected to remain weak despite possibility of some minor technical rebound today after yesterday's heavy drop.
Plan A : Wait for rebound to sell, possibly around 1687 if market fails to breach through
Plan B : Cut above 1695
Plan C : No buying to be attempted for the time being
Plan D : Next support seen at 1672 and 1660
FCPO
FCPO had choppy run yesterday and closed almost day high. Dalian and soybean oil are down slightly while Ringgit is RM3.92 against the greenback. Market is still on its way down though with weaker Ringgit. Intraday trading opportunity is quite good recently, therefore, trader might need to be alert for any signal that comes long. You could ask us how by email at futures.coin@gmail.com
Plan A : Intraday investor may sell if market could not breach 2056 or 2061. Target is 2000, 1985 and 1977.
Plan B : Buyer may stay out until further notice. Market need to support above 2031 for a buy signal.
Plan C : Above 2060, do nothing.
Plan D : Below 2030, 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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