Monday, January 24, 2022

25 January 2022 BMD

                             LOCAL MARKET


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FKLI 

FKLI closed lower on Monday on continuous selling pressure in most underlying heavyweights led by glove maker Hartalega, amid weak market sentiment.

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Plan A : Remain sell as long as market stays below 1526.5. Targets are 1510.5 and 1500.

Plan B : Consider long if market supports firmly above 1500  and rebound. Targets are 1510 and 1520.



FCPO

FCPO remain trading within consolidation. Dalian closed -148 at 9432 while soybean oil traded +0.13 at 62.10. Ringgit stays at RM4.18 against the greenback.

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Plan A: Long if market supported firm above 5254. Targets are 5276 and 5297.

Plan B : Short if market failed to support above 5254. Targets are 5240 and 5217.



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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