Sunday, August 25, 2019

26 August 2019 BMD

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

LOCAL MARKET

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FKLI 

FKLI had a last minute pull up when KLCI closed at the peak which pushed away most of the sellers in the market. However the market seems still moving within the range for the whole week last week. But today it may run out of the range as the Dow plunged more than 2% before the weekend due to the worsen situation of trade war.

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Plan A : Attempt to short if market stays below 1595
Plan B : Cut above 1601
Plan C : Consider to long if market tested and rebounds from 1573
Plan D : Cut below 1569


FCPO

FCPO opened gap-up after the trade war between the U.S. and China heated up. Dalian hiked upon open and soybean oil remain slightly positive. Ringgit weakened against the greenback at RM4.20.

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Plan A : Sell if market failed to support above 2285. Targets are 2272 and 2260.
Plan B : Buy if market retraced but supported firm above 2285. Targets are 2302 and 2316.
Plan C : Above 2292, no fresh position.
Plan D : Below 2278, 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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