Tuesday, May 23, 2017

24 May 2017

HSI Futures

Wall Street edged higher on Tuesday with investors relieved by the release of President Donald Trump's budget plan, but gains were tempered by declines in consumer discretionary stocks.

Hong Kong's benchmark index inched up to a fresh 22-month high on Tuesday, buoyed by strong money flows from mainland China.

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Plan A : Above 25586, do nothing
Plan B : Below 25320, do nothing
Plan C : Attempt buying if market trades firmly above 25380
Plan D : Cut below 25320
Plan E : Consider selling if market surges but fails to breach above 25586
Plan F : Cut above 25630


FKLI

Market tumbled down yesterday after failing to breach above 1775 early in the morning Failure to hold above 1769 caused liquidation by buyers and sent market to a low of 1762 before settling at 1764. Market could stabilize today amid firmer overnight Dow. Successful hold above 1764 would give market a chance to climb back up above 1770-levels. Otherwise, more selling can be expected.

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Plan A : Attempt buying if market holds firm above 1764
Plan B : Cut below 1758
Plan C : Consider selling if market surges but fails to breach above 1769.5
Plan D : Cut above 1773


FCPO

FCPO attempted a rebound to 2666 yesterday's morning, however, the selling pressure came in harsh during the second session as Dalian and soybean oil weakened over the lunch break. Overnight soybean oil dropped $0.60 while Dalian continued to tumble. Ringgit stays at RM4.30 against the greenback.


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Plan A : Buy only if market supported above 2569. Targets are 2583, 2604, 2615 and 2631. 
Plan B : Sell if market rebounded and resisted around 2615. Targets are 2599, 2576, 2544.
Plan C : Above 2615, no fresh position.
Plan D : Below 2569, 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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