Sunday, March 1, 2020

02 March 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI continued to plunge for more than 2% on last Friday due to the worsen virus outbreak, in addition to the internal politics turmoil. 

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Plan A : Short if market recovers but does not breach above 1475.5. Targets are 1471, 1467.5 and 1462.
Plan B : Cut above 1480.
Plan C : Long if market tested and rebounds from 1456.5. Targets are 1461, 1464.5 and 1469.5.
Plan D : Cut below 1451.



FCPO


FCPO rebounded to 2380 second session opening but the momentum seems to fail for an upside channel and retrace back to 2340's. Dalian closed -36 ended at 5034 while soybean oil is lying at positive territories. Ringgit stays at RM4.20 against the greenback.


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Plan A : Long if market supported firm above 2349. Targets are 2365 and 2388.

Plan B : Short if market failed to support above 2349. Targets are 2328 and 2305.  






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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