Wednesday, April 1, 2020

02 April 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI gapped down for more than 20-points on the first trading day of April and hovering at 1320's for first session. It then dipped to 1308 in the second session before it then closed at 1309.5. With the worsen situation of the virus outbreak globally, we may expect FKLI to once again break below 1300's.

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Plan A : Continue to hold short as long as market stays below 1318.5. Targets are 1315.5. 1312 and 1308.
Plan B : Cut above 1323.
Plan C : Attempt to long if market does not falls below 1300. Targets are 1304, 1307 and 1311.
Plan D : Cut below 1296.



FCPO

FCPO consolidate with some rebound attempt back to 2360's but in vain, causes the market to fall back to the selling territories. Dalian closed +42 ended at 4944 while soybean oil is slightly positive. Ringgit stays at RM4.33 against the greenback. 

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Afternoon Plan
Plan A : Short if market failed to support above 2325. Targets are 2301 and 2279.
Plan B : Long if market failed to support above 2325. Targets are 2349 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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