Monday, May 17, 2021

18 May 2021 BMD

                                  LOCAL MARKET


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FKLI

FKLI lost 1.5-points after a see saw trading, returning on first day after the festive holiday. Investors were seen cautious despite some bargain hunting activities towards the final hour of trading. Potential full lockdown in Selangor to curb further COVID-19 infections may weigh on any gains today.

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Plan A : Remain sell as long as market stays trading below 1582. Targets are 1571.5 and 1565.

Plan B : Consider long only if market able to hold firm above 1571.5 and rebound. Targets are 1579.5 and 1582.



FCPO

FCPO continue to bull today after the switch month. Market prices are coming back to near 4400-mark following the strong upside from both regional markets. Dalian closed +48 at 8268 while soybean oil traded +0.84 at 69.81. Ringgit stays at RM4.12 against the greenback.

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Plan A : Long if market supported firm above 4364. Targets are 4385 and 4410.

Plan B : Short only if market failed to support above 4364. Targets are 4342 and 4320.




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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