8 June 2017

HSI Futures

U.S. stocks edged up on Wednesday despite a sharp decline in energy shares after written testimony from former FBI director James Comey did not include any big surprise about an investigation into Russian meddling with last year's U.S. presidential election.

Hong Kong stocks ended Wednesday lower after hitting a fresh 23-month intraday high, with more listed companies in the city targeted by short-sellers.

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Plan A : Above 25875, do nothing
Plan B : Below 25730, do nothing
Plan C : Attempt selling if market stays trading below 25770
Plan D : Cut above 25875
Plan E : Consider buying if market holds resiliently above 25730 and rebound
Plan F : Cut below 25730


FKLI

Market retraced from a new high of 1793.5 before profit taking activities sent FKLI lower and settled at 1786.5. Market is deemed to be firm although profit taking activities prevented it from going further. A muted open can be expected today with investors staying cautious ahead of UK election and Comey testimony. 

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Plan A : Attempt long if market stays firm above 1786
Plan B : Cut below 1781
Plan C : Consider selling if market test but fails to breach above 1793 convincingly
Plan D : Cut above 1796


FCPO

After a long stretch of consolidation, FCPO finally showed its way down the South on Wednesday. Dalian is down slightly while soybean oil is insignificant. Ringgit stays at RM4.26 against the greenback.

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Plan A : Sell if market rebounded and resisted around 2463. Targets are 2450, 2425 and 2398.
Plan B : Buy if market bottomed and supported firm above 2425. Targets are 2449, 2463 and 2475.
Plan C : Above 2463, no fresh position.
Plan D : Below 2425, no fresh position.


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