Tuesday, May 2, 2017

3 May 2017

FKLI

Wall Street edged higher on Tuesday as gains for the tech and industrial sectors countered weakness in auto and energy stocks and investors digested a heavy day of earnings reports. Hong Kong and South Korea markets close for Birthday of Buddha celebration while Japan shut for Constitution Day today. 

FKLI performed rather well for first trading day of May yesterday after successfully surging all the way from low of 1762.5 to a close of 1773.5 which is near day's high. Market could potentially surging to a new high level of 1780s if it manage to trade resiliently above 1770 today.

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Plan A : Attempt buying if market holds firm above 1770
Plan B : Cut below 1766
Plan C : Consider selling if market surges towards 1784 but fails to breach through
Plan D : Cut above 1789


FCPO

FCPO attempted a rebound to 2556 on Tuesday after forming a support platform at 2520. Dalian and soybean oil are mixed while Ringgit strengthen against the greenback at RM4.31. 

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Plan A : Buy if market supported firm above 2532. Targets are 2560, 2572 and 2583.
Plan B : Sell only if market market failed to support above 2532. Targets are 2520, 2502, 2488 and 2463.
Plan C : Above 2546, no fresh position.
Plan D : Below 2520, 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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