06 May 2021 BMD

                                     LOCAL MARKET

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FKLI

FKLI closed 14.5-points lower on Wednesday as most of cash market key index's components succumbed to selling pressure as lockdown imposed on KL and Selangor.

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Plan A : Remain sell as long as market stays trading below 1594.5. Targets are 1571.5 and 1555.

Plan B : Consider buy only if market supported firmly above 1571.5 and rebound. Targets are 1581.5 and 1587.

FCPO

FCPO spiked this morning, bringing the price near the previous high for the first session. The prices rose further to 4200 in the afternoon following the great upside from the regional markets. Dalian closed +422 at 7890 while soybean oil traded +1.15 at 64.61. Ringgit stays at RM4.12 against the greenback.

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Plan A : Long if market retraced but supported firm above 4183. Targets are 4205 and 4227.

Plan B : Short if market failed to support above 4183. Targets are 4160 and 4138.

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.