Thursday, August 8, 2019

09 August 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET


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FKLI

FKLI rebounded along the support levels yesterday beautifully from 1601.5 to the tip at 1617.5 before it then settled at 1615 at the end of the day. With the jump in the overnight Dow Jones for more than 300-points, FKLI should have further inching up today.

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Plan A : Continue to hold buy as long as market stays above 1615
Plan B : Cut below 1611
Plan C : Consider selling only if market does not surge above 1633
Plan D : Cut above 1637


FCPO

FCPO continued its upward surge and settled at 2135 yesterday. With RM is still at 4.18 against the greenback, we can expect FCPO to hold positive for the time being. Wait for correction to buy as market has surged for quick a bit since last month.

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Plan A : Wait for opportunity to buy around the 2106 level. Targets are 2124 and 2133.
Plan B : Sell only if FCPO stays trading below 2139. Targets are 2124 and 2106.
Plan C : Above 2144, no fresh position
Plan D : Below 2106, no fresh position

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Market Watch 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 r.isks, consequences and suitability of that investment.

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