Thursday, August 15, 2019

16 August 2019 BMD

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

LOCAL MARKET


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FKLI 

FKLI made a remarkable rebound from a low of 1576 to 1597 before settling at 1586 yesterday. Market is expected to open higher today after overnight Dow closed positive. Trading range could be tight today amid uncertainty of the next market direction. Investors are likely to stay sideline until there's a fresh catalyst coming into the market.

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Plan A : Attempt long if FKLI holds firm above 1589
Plan B : Cut below 1584
Plan C : Consider selling if market remain trading below 1597
Plan D : Cut above 1603



FCPO

FCPO opened higher this morning later retraced and supported above 2184 till mid-way of second session. Dalian and soybean oil are mixed while Ringgit strengthen at RM4.17 against the greenback.  

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Plan A : Sell if market failed to support above 2190. Targets are 2176 and 2165.
Plan B : Buy only if market supported firm above 2190. Targets are 2202 and 2216.
Plan C : Above 2195, no fresh position.
Plan D : Below 2185, 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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