Monday, May 1, 2023

2 May 2023 BMD


  LOCAL MARKET


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FKLI

FKLI ended lower as investors sold financial services and plantation blue chips ahead of another shortened trading period next week, bucking the mainly positive regional trend.

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Plan A : Consider long if the market stays above 1416. Targets are 1422 and 1426.

Plan B : Attempt short if the market stays below 1416. Targets are 1409 and 1404



FCPO
 
FCPO surge up after plummeting down last Friday, trading around 3400'. Dalian is closed until Wednesday while soybean oil traded +0.37 at 52.18. Ringgit maintained at 4.45 against the greenback.
 

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Plan A : Short if market fail to support above 3450. Targets are 3440  and 3420.

Plan B : Long only if market supported above 3450. Targets are 3480 and 3506.



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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