Energy and bank stocks led Wall Street higher on Wednesday, adding to a rally in the previous session, after strong jobs data dispelled concerns over the health of the U.S. economy.
Hong Kong stocks jumped over 3 percent on Wednesday to their highest level in seven weeks, with investor sentiment lifted by strength in global markets as well as a more than 4 percent jump in mainland China shares.
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Plan A : Above 20000, do nothing
Plan B : Below 19678, do nothing
Plan C : Consider selling if market surges and fails to break above 20000
Plan D : Cut above 20050
Plan E : Attempt buying if market corrects and holds firm above 19678
Plan F : Cut below 19595
FKLI
Market staged an impressive run yesterday, touching an intraday high of 1689.5 before settling at 1687.5. Market stands a chance of testing 1698 level today if regional markets continue to perform well. Firmer Ringgit at 4.13 too will help pushing market up for another day.
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Plan A : Wait for retracement to buy, possibly around the 1680 level
Plan B : Cut below 1677
Plan C : Consider selling if market surge but fails to break above 1698
Plan D : Cut above 1703
FCPO
FCPO breakdown to a sell trend on Wednesday with little chance of correction. Dalian and soybean oil are trading weak this morning while Ringgit strengthen against the greenback around RM4.13 to RM4.14. Market likely to open lower today with regional and RM being supportive to a downside.
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Plan A : Buy if market retreated and support above 2475. Targets are 2497, 2508 and 2519.
Plan B : Sell if market rebounded and resisted around 2508. Targets are 2480, 2471 and 2464.
Plan C : Above 2508, no fresh position.
Plan D : Below 2475, 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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