U.S. stock went on a rally on Tuesday however, the release of weak manufacturing data contracted the gain. Dow, S&P and NASDAQ ended positive with closing up nearly 1% .
Asia region opened mixed. Hang Seng attempted to regain the losses on Tuesday, bringing market back to the positive territory.
Plan A : Sell if market rebounded but resisted at 22620 or 22772. Target is 22314.
Plan B : Buy if market supported above 22314 or 22455. Targets are 22772 and 22846.
Plan C : Above 22620, no fresh position.
Plan D : Below 22300, no fresh position.
FKLI
FKLI ran on consolidation within 1650's to 1690's for over past 3 weeks. After the correction to 1657, market starts to form a support level and it is slowly heading an upside. This is yet to be confirmed until there is a breakthrough from the resistances.
Plan A : Buy if market could support above 1676. Targets are 1692 and 1699.
Plan B : Sell if market failed to challenge 1694.5. Place a stop. Targets are 1681 and 1676.
Plan C : Above 1695, no fresh position.
Plan D : Below 1673, no fresh position.
FCPO
FCPO had good start on Tuesday morning but selling pressure came in straight after depressing the market. Dalian and soybean oil are significantly positive while Ringgit strengthen slightly to RM4.21 against the greenback.
Plan A : Sell if market gap-up and resisted at 2362. Targets are 2346, 2336, 2326 and 2317.
Plan B : Buy if market retraced and supported above 2342. Targets are 2362, 2375 and 2384.
Plan C : Above 2360, no fresh position.
Plan D : Below 2340, no fresh position.
*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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