A weak handover from Wall street as U.S. stocks mostly declined, with S&P 500 retreating after rising near its record close. Nasdaq extended its losses on the third day, as investors sorted through the earnings.
Asian stocks continue to dive as investors braced for the latest round of Chinese economic data. Both Chinese consumer and producer price inflation for April are due for release at 9:30am SIN/HK. Annual consumer inflation is expected to ease to 2% from 2.4% in March, whereas, the producer price index is expected to fall, according to Reuters estimates.
Plan A : Overnight seller hold on to position unless resistance at 21774 is broken. Target looking at 21102.
Plan B : Buyer might want to stay out of market until it stabilizes.
Plan C : Intraday investor might want to stay out.
Plan D : Above 21800, do nothing.
Plan E : Below 21500, do nothing.
FKLI
Ringgit has strengthen against the greenback at RM 3.22 today and after the gap up from yesterday, market seems to be holding firm above support. However, market has sign of breaking out maybe next week.
Plan A : Overnight buyer may need to be cautious taking support at 1854.5. Target is looking at 1874 and 1910.
Plan B : Intraday investor may want to trade within range of 1854 and 1865.
Plan C : Long term seller may sell if 1868 is not broken. Target is 1801.
Plan D : Above 1870, do nothing.
Plan E : Below 1840, do nothing.
FCPO
FCPO is still under selling pressure with prices traded lower in the second session. Therefore, buyer may want to stay conservative.
Plan A : Overnight seller may hold on to position unless resistance at 2585 is broken. Target price is looking at 2523.
Plan B : Intraday investor may wan to trade within range of 2552 and 2585.
Plan C : Long term buyer may want to wait for consolidation before reacting. No trade for today.
Plan D : Above 2592, 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
Plan A : Overnight buyer may need to be cautious taking support at 1854.5. Target is looking at 1874 and 1910.
Plan B : Intraday investor may want to trade within range of 1854 and 1865.
Plan C : Long term seller may sell if 1868 is not broken. Target is 1801.
Plan D : Above 1870, do nothing.
Plan E : Below 1840, do nothing.
FCPO
FCPO is still under selling pressure with prices traded lower in the second session. Therefore, buyer may want to stay conservative.
Plan A : Overnight seller may hold on to position unless resistance at 2585 is broken. Target price is looking at 2523.
Plan B : Intraday investor may wan to trade within range of 2552 and 2585.
Plan C : Long term buyer may want to wait for consolidation before reacting. No trade for today.
Plan D : Above 2592, 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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