U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth.
China stocks extended losses on Thursday, led by Shanghai shares falling to seven-month lows, with sentiment still soured amid tougher financial regulations. Hang Seng however, traded flat as market taking a breather after the surge above 25,000 level.
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Plan A : Above 25120, do nothing
Plan B : Below 24920, do nothing
Plan C : Attempt buying if market stays firm above 24960
Plan D : Cut below 24920
Plan E : Consider selling if market surges but fails to breach above 25120
Plan F : Cut above 25150
FKLI
Market traded pretty firmly yesterday with FKLI holding above 1770-level throughout the day. It seems like market is ready for another take off from here once it breach above 1778-level convincingly. Sellers are advised to be more vigilant as this surge could trigger a rally above 1800-level before election.
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Plan A : Remain buying as long as market stays firm above 1772
Plan B : Exit below 1767
Plan C : Consider selling only if market fails to breach above 1778
Plan D : Cut above 1784
FCPO
FCPO flattened on Thursday despite a gap up after the lunch break. Dalian and soybean oil are mixed while Ringgit stays at RM4.34 against the greenback.
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Plan A : Sell if market exhausted around 2709. Targets are 2674 and 2648.
Plan B : Buy if market retraced and supported above 2657. Targets are 2674, 2709 and 2748.
Plan C : Above 2709, no fresh position.
Plan D : Below 2657, 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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