Monday, October 21, 2019

22 October 2019 BMD

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

LOCAL MARKET

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FKLI

The FKLI attempted to rebound to above 1570's but failed to sustain here and closed at 1568.5 at the end of the day, whereby the selling pressure still giving a kick in the market.

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Plan A : Continue to hold sell if market stays below 1574. Cut above 1578.
Plan B : Targets are 1571, 1568.5 and 1565.
Plan C : Buy if market rebounds from 1562.5. Cut below 1558.
Plan D : Targets are 1566, 1568.5 and 1572.




FCPO

FCPO opened lower this morning, the losses later erased by afternoon's surge after a firm ground above 2270's. Dalian closed slightly negative while soybean oil hovers around positive territories. Ringgit stays at RM4.18 against the greenback.

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Afternoon Plan

Plan A : Sell if market rebounded and resisted around 2312. Targets are 2301 and 2289.
Plan B : Buy if market retraced but supported firm above 2286. Targets are 2298 and 2311.  



Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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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