The Nasdaq Composite on Thursday erased its last standing milestone from the dot-com era as it set a record intraday high, with stocks on Wall Street in rally mode boosted by strong economic data.
Hong Kong stocks ended Thursday lower, with investors' risk appetites subdued by a possible Greek default and increasing volatility in the mainland's equity market.
Plan A : Above 26657, do nothing
Plan B : Below 26333, do nothing
Plan C : Consider selling if market fails to break above 26657 and triggers a sell
Plan D : Cut above 26657
Plan E : Attempt buying if market holds firm above 26495
Plan F : Cut below 26466
FKLI
Market performed weak in the afternoon session yesterday after news of Tenaga Nasional Berhad's (TNB) plans of take over Project 3B which belongs to 1MDB spread across the market. Investors were seen unimpressed with this piece of news and took it as an excuse to further selling the market. FKLI could narrow its discount to cash market today after gains in overnight Dow but sentiments is expected to remain weak.
Plan A : Attempt selling around 1712 level if it fails to breach through after the morning rebound
Plan B : Cut above 1719
Plan C : Intraday buying will have to treated with care as immediate support seen at 1696.5
Plan D : Cut below 1693
FCPO
FCPO opened gap down yesterday and never recovered thereafter. Market finally showing some signs of breaking out from its consolidation range with it failing to hold above 2249 level. Market could open lower once again today with weaker overnight bean and dalian coupled with stronger RM. However, sellers must not be over bearish as this decline could just be a gap covering for June 1st gap up.
Plan A : Sellers hold on to their position as long as market stays below 2262
Plan B : Fresh selling can be considered if market rebounds but fails to break above 2249
Plan C : Cut above 2262
Plan D : No intraday buying to be attempted for the time being
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