Sunday, July 5, 2020

06 July 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI supported firm above 1540's on last Friday with the contribution from the strong recovery in KLCI. With the strong closing in the overnight Dow, we can expect FKLI to further rising but watch out for the selling pressure when it comes near to resistant at 1580's.

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Plan A : Short if the market does not breach above 1568. Targets are 1564, 1561 and 1557. Cut above 1572.

Plan B : Continue to hold long as long as market stays above 1547. Targets are 1551, 1555 and 1559. Cut below 1544.



FCPO

FCPO likely to trade sideways for the time being unless convincing breakout from current trading range. Market could turn bullish if it could trades firmly above the 2391-level.

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Plan A : Long if market doesn't retrace much and supported firm above 2356. Targets are 2379 and 2391.

Plan B : Short if market failed to support above 2356. Targets are 2348 and 2332.



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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