Wednesday, September 4, 2019

05 September 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET

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FKLI 

FKLI was rather flat for the first session but had a great pull up in the second session followed with the surge in Hong Kong's Hang Seng Index. Several resistances were broken and led the market supported well above 1590's. We shall see if it able to break above 1600's and sustain above this level.

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Plan A : Continue to hold buy as long as market stays above 1593
Plan B : Cut below 1588
Plan C : Consider selling only if market does not break above 1603
Plan D : Cut above 1608




FCPO

FCPO opened lower this morning and visited 2163. Dalian and soybean oil are weak while Ringgit rebounded against the greenback at RM4.19.

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Plan A : Buy only if market supported firm above 2181. Targets are 2193 and 2208.
Plan B : Sell if market failed to support above 2181. Targets are 2168 and 2154.
Plan C : Sell if market doesn't rebound much but failed to support above 2168. Targets are 2154 and 2136.


   

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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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