U.S. stocks closed higher Monday, the first trading day of the month, helped by a decline in the dollar index.
Hong Kong shares dropped over 1 percent on Friday as sentiment was soured by a tumble in Japanese stocks, after the Bank of Japan disappointed markets by electing not to expand monetary stimulus on Thursday. Over the weekend, China's official manufacturing PMI was 50.1 in April, down from 50.2 the prior month, while the services read was 53.5 in April, compared with 53.8 in March.
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Plan A : Above 21147, do nothing
Plan B : Below 20691, do nothing
Plan C : Attempt selling if market surges but fails to break above 21004
Plan D : Cut above 21147
Plan E : Consider intraday buying if market stays firm above 20850 and rebounds
Plan F : Cut below 20800
FKLI
Market did some technical rebound last Friday before going into long weekend holiday. Although it is still possible for FKLI to continue some recovery, the best strategy at this moment is still higher to sell. Failure to breach above 1668 or 1677 would represents opportunity to sell if market does rebound in the morning.
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Plan A : Attempt selling if market fails to breach above 1668
Plan B : Cut above 1673
Plan C : Buying to be considered if market test 1653.5 once again and rebound
Plan D : Cut below 1650
FCPO
Bean and dalian came down quite a bit last week before we went into holiday. FCPO is expected to open lower after failing to close above 2600 level. A temporary support at 2575 would likely be tested at the opening. Failure to hold above this level would see market testing 2535 in the near future.
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Plan A : Sell on rebound, possibly around the 2589 level. Targets are 2569, 2551 and 2536
Plan B : Buy if market supported above 2536. Targets are 2569, 2575, 2589
Plan C : Above 2589, no fresh position
Plan D : Below 2551, no fresh position
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