U.S. stocks dipped in low trading volume on Wednesday, with traders focusing on Thursday's referendum on whether Britain will remain part of the European Union.
Hong Kong stocks rose for a fourth straight day on Wednesday as investors were hopeful Britain will vote to stay in the European Union this week, while Federal Reserve Chair Janet Yellen's cautious tone on future rate hikes also soothed sentiment.
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Plan A : Above 20906, do nothing
Plan B : Below 20582, do nothing
Plan C : Attempt buying if market corrects and holds firm above 20582
Plan D : Cut below 20518
Plan E : Consider selling if market opens gap up but fails to breach above 20840
Plan F : Cut above 20906
FKLI
FKLI test 1638 twice but still yet to breach through. Mid week holiday yesterday could have distorted market's surge but it will be interesting to watch and see if FKLI were to play catch up to regional markets yesterday. Successful breach and firm hold above 1638 would give the much need boost for the market to decouple itself from its previous bear run.
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Plan A : Attempt long if market holds firm above 1634
Plan B : Cut below 1629
Plan C : Consider intraday selling if market surges but fails to break above 1643
Plan D : Cut above 1646
FCPO
FCPO continue to move down South to low of 2370 on Tuesday. Dalian and soybean oil are slightly positive while Ringgit strengthen against the greenback at RM4.01. Market at this range could be quite tricky, therefore, trader should take precaution.
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Plan A : Sell if market rebounded and resisted around 2399. Targets are 2378 and 2356.
Plan B : Buy if market stabilized and supported above 2356. Targets are 2390, 2407 and 2424.
Plan C : Above 2399, no fresh position.
Plan D : Below 2356, 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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