U.S. stocks mostly rose on Tuesday, with the S&P 500 snapping a two-session decline as the materials sector rallied, though the Dow fell on disappointing earnings by three of its components.
Chinese shares listed in Hong Kong posted their biggest gain in two months on Tuesday, led by financials as cash rates eased in the mainland after the Chinese central bank offered emergency funds to ease the latest cash squeeze.
Market visibly moving in a consolidation mode once again
Plan A : Above 23204, do nothing
Plan B : Below 22965, do nothing
Plan C : Consider buying if market holds firm above 23031
Plan D : Cut below 22965
Plan E : Take profit around 23204 if it fails to breach through
Plan F : Consider selling around 23138 if it fails to breach above 23204
Plan G : Cut above 23204
Plan H : Take profit around 23031 if it stays firm
FKLI
FKLI tried staging a rebound yesterday but still failed to break above its immediate resistance level of 1818. Weak Ringgit will likely dampened any hope of mini pre-CNY rally
Plan A : Take a selling position around 1813-1816 level
Plan B : Cut above 1818
Plan C : Consider taking profit if market stays firm above 1795
Plan D : Buying can only be considered if market dives to 1781 level but holds firm
Plan E : Cut below 1777
FCPO
Ringgit is again defeated by US currency marking a rate of RM 3.33. Looking at this, market could continue with its uptrend and hitting our target price.
Plan A : Overnight buyer could hold on to the buy taking the support at 2540. Profit target might come today reaching 2608.
Plan B : Seller may want to stay away from the market today. Seller have to wait for the extreme level to sell. Levels that we are talking about are 2669 and 2700. Therefore, today might not be the day.
Plan C : Intraday player might try some buy if 2560 is supported. Taking 10 to 15 points risk and profit target is looking at 2608.
Plan D : Above 2590, do nothing,
Plan E : Below 2540, do nothing.
*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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