Tuesday, October 22, 2019

23 October 2019 BMD

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

LOCAL MARKET

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FKLI

The market seems stamping its feet well above 1570's yesterday and may have found several supports below this level in order for it to further inching, with partial contribution from the KLCI and regional markets.

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Plan A : Attempt to buy if market does not falls below 1568. Cut below 1564.
Plan B : Targets are 1571, 1574 and 1577.5.
Plan C : Sell if market falls below 1568. Cut above 1572.
Plan D : Targets are 1564.5, 1562 and 1559.


FCPO
FCPO surged in the morning with Dalian and overnight soybean oil markets performing strong. Ringgit stays at RM4.18 against the greenback. Market surged twice at opening since the switch month, elevating the prices back to the 2300's. The question of whether the upside may continue to bull, investor may want to observe the second session market later.  


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Plan A : Sell if market failed to support 2345. Targets are 2331 and 2311.
Plan B : Buy if market retraced but supported firm above 2345. Targets are 2358 and 2370.




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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