Sunday, October 16, 2016

17 October 2016

HSI FUTURES

U.S. stock mostly closed higher last Friday due to the strong earnings from the banking sector and U.S. economic data. Dow ended up 39 points while S&P 500 and NASDAQ ended slightly up.

Hang Seng triggered sell signal at daily chart after consolidation for almost a month. Investor might watch for selling if resistances are not breached.

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Plan A : Sell if market rebounded and resisted around 23105. Targets are 22830, 22724 and 22571.
Plan B : Consider buying only if market supported above 23105. Targets are 23387, 23519 and 23626.
Plan C : Above 23190, do nothing
Plan D : Below 23014, do nothing


FKLI

Market slowly leaning towards downside, showing some weakness over the past two days. Though it's a sell signal now at daily chart, investor should consider the fact that market has been hovering around 1660's to 1650's for quite some time, therefore, the breakdown is yet to be confirmed.


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Plan A : Sell if market rebounded and resisted around 1657. Targets are 1650, 1646, 1640 and 1636.
Plan B : Buy only if market supported above 1652. Targets are 1663 and 1667. 
Plan C : Above 1657, no fresh position.
Plan D : Below 1652, no fresh position.


FCPO

FCPO remain supported last week after touching the low at 2539 on Monday. Dalian and soybean oil performed extremely strong today while Ringgit stays at RM4.21 against the greenback.


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Plan A : Buy if market retraced and supported above 2671. Targets are 2705, 2728 and 2737.
Plan B : Sell if market opened high and resisted around 2737. Targets are 2705, 2682 and 2671.
Plan C : Above 2737, no fresh position.
Plan D : Below 2671, 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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