Tuesday, March 17, 2020

18 March 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI dived below 1200's at yesterday's opening but had a steady rebound to 1288.5 before the first session ends. However, the market failed to sustain and gradually declined and closed at 1255 at the end of the day. 

Today started the Movement Control by the Malaysia government in order to fight against the virus outbreak in the nation.

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Plan A : Continue to short if market does not breach above 1252. Targets are 1248, 1244.5 and 1241.
Plan B : Cut above 1257.
Plan C : Long only if market rebounds firmly from 1258. Targets are 1261.5, 1264 and 1268.
Plan D : Cut below 1253.



FCPO
FCPO sky-rocketed this morning, driving the market near 2400's, but the upwards momentum is lacking of support eventually and prices falls back to the losing ground. Dalian closed +26, retreated from the high, ended at 4672. Soybean is staying at positive net change while Ringgit recorded recent new low each day against the greenback at RM4.36.   


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Plan A : Long only if market supported firm above 2300. Targets are 2327 and 2352.
Plan B : Short if market rebounded but resisted around 2300. Targets are 2279 and 2254.



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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