European stocks inched lower in thin trade on Monday, slipping from 5 1/2-year highs as Deutsche Bank's surprise quarterly loss prompted investors to cash in recent gains on banking stocks.
Hong Kong shares were knocked off a two-week high on Monday after data showed an easing in China's pace of economic expansion in the last quarter due to sagging investment growth.
Market could be back in consolidation stage once again after failing to stays firm yesterday.
Plan A : Above 23082, do nothing
Plan B : Below 22696, do nothing
Plan C : Consider buying if market supported well above 22810 and rebound to 22856 level
Plan D : Cut below 22790
Plan E : Consider selling if market rebounds but fails to breach above 22963
Plan F : Cut above 23029
FKLI
FKLI remains weak despite finding some minor support at 1795. Selling on rebound could still be a better bet for a time being
Plan A : Sell around 1811-1815 level
Plan B : Cut above 1818
Plan C : Consider taking profit if market holds firm above 1795
Plan D : Buying can only be attempted if market dives to 1781 level but holds firm
Plan E : Cut below 1777
FCPO
Market was trading on a tight range yesterday and breaking the second resistance at 2577 to the high of 2585. Still see an upside with weakened ringgit.
Plan A : Above 2570, do nothing.
Plan B : Below 2530, do nothing.
Plan C : Overnight buyer may want to exit position if market could not hold above 2577. Next profit target looking at 2608.
Plan D : Intraday player might have a chance to trade within the range. The consolidation is looking between 2550 to 2590.
Plan E : Fresh and overnight buyer could try some buying or further buying at 2540's to 2550. Taking 2530 as support. Recommend to hold overnight.
*Disclaimer: This information is intended to assist professional investors. 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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