Thursday, December 3, 2020

04 December 2020 BMD

                         We are expanding to                   global  markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI    

A strong run in KLCI pushed FKLI above its consolidation level and settled at 1632.5 yesterday. Solid uptrend can be expected if rumours of construction sector being beneficiary of upcoming packages of mega infrastructure projects are real. 

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Plan A : Remain buy as long as market stays firm above 1624. Targets are 1639.5 and 1646.

Plan B : Consider sell only if market fails to hold firm above 1624. Targets are 1619 and 1613.



FCPO

FCPO challenged the 3400 level today and it could merely support as yet. Dalian closed +178 at 6724 while soybean oil +0.15 at 37.88. Ringgit strengthen against the greenback at RM4.05.

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Plan A : Long if market supported firm above 3382. Targets are 3401 and 3423.

Plan B : Short if market failed to support above 3382. Targets are 3361 and 3340.




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 correction, 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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