U.S. stocks ended slightly lower on Tuesday as a decline in healthcare and biotech stocks offset gains in United Technologies and Verizon. Hong Kong markets will be closed today for Chung Yeung Day celebration.
FKLI tumbled in the afternoon session yesterday as Ringgit continue weakening against green back. Market could potentially triggers a new trend down from here if it fails to regain its footing above 1702 today. Failure to hold above 1686 would add pressure onto the market and send the market lower.
Plan A : Overnight sellers just hold on to position. Resistance seen at 1702
Plan B : Intraday sellers can consider selling if market rebounds but fails to break above 1697
Plan C : Cut above 1702
Plan D : No buying to be attempted for the time being
Plan E : Immediate supports seen at 1686/1673
FCPO
FCPO supported its way up with slow commotion until a surge towards the end of the day. Dalian and soybean oil are trading positively while Ringgit further weakened to RM4.28 against US Dollar. Market is bias to an upside due to the weak Ringgit, however, up-channel might be quite limited unless resistances are breached with great surge across 2400 again.
Plan A : Sell if market could not breach 2368. Targets are 2339 and 2320.
Plan B : Wait for correction for a buy. Buy if price supported above 2339. Targets are 2368 and 2380.
Plan C : Above 2350, do nothing.
Plan D : Below 2330, do nothing.
*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters 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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