Tuesday, August 24, 2021

25 August 2021 BMD

                                    LOCAL MARKET


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FKLI    

FKLI rallied on Tuesday, gaining 32.5-points to close at its two-month high as investors collected oversold stocks following the recent sell-down. Market is expected to open little changed today with consolidation in play after yesterday's furious run-up.

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Plan A : Remain buy as long as market trades firmly above 1550. Targets are 1560 and 1569.

Plan B : Consider short only if market surges but fails to breach above 1560. Targets are 1552.5 and 1548.



FCPO    

FCPO stabilized above 4300-mark and continue to climb. Dalian closed +194 at 8290 while soybean oil traded -0.10 at 60.45. Ringgit stays at RM4.21 against the greenback.

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Plan A : Long if market supported firm above 4363. Targets are 4385 and 4408.

Plan B : Short if market failed to support above 4363. Targets are 4340 and 4319.


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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