Thursday, October 7, 2021

08 October 2021 BMD

                                  LOCAL MARKET


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FKLI  

FKLI rose for the 3rd consecutive days as market tracking positive sentiment in Wall Street given the fading U.S. debt ceiling worries coupled with the interstate border reopening talks. Market is expected to open higher today but resistance at 1567 must be monitored closely. Failure to breach above could bring excuse for the market to profit take after recent run-up.


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Plan A : Remain buy as long as market stays firm above 1551.5. Targets are 1567 and 1575.

Plan B : Consider short if market surges but fails to breach above 1567. Targets are 1552 and 1548.



FCPO

FCPO recorded a new decade high again today at 4914 along with strong Dalian performance after a long festive holiday. Dalian closed +630 at 9410 while soybean oil traded -0.02 at 62.04. Ringgit stays at RM4.18 against the greenback.

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Plan A : Long if market supported firm above 4873. Targets are 4895 and 4919.

Plan B : Short if market failed to support above 4873. Targets are 4850 and 4828.




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, mining.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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