Tuesday, August 11, 2020

12 August 2020 BMD

                               We are expanding to global markets. 

 See next article for the trade plan.

LOCAL MARKET

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FKLI

FKLI was seen under persistent selling pressure yesterday despite some minor recovery towards closing. Market is expected to open lower today after overnight Dow lost all its gains and closed negative all the day. Plunging gold price too gonna weigh on gold related stocks and further dampen market's sentiment.


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Plan A : Short if market recovers but still trades below 1568. Targets are 1557 and 1551. Cut above 1574.

Plan B : Consider buy only if the market recovers and stays firm above 1564. Targets are 1568 and 1574. Cut below 1559.




FCPO

FCPO gap-down this morning to 2606 and slowly climbed back 2638 for the first session. Dalian closed -180 at 5672 while soybean oil -0.18. Ringgit stays at RM4.19 against the greenback.

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Plan A : Short if market failed to support above 2630. Targets are 2612 and 2598.

Plan B : Long if market supported firm above 2630. Targets are 2648 and 2665.



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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