Monday, October 7, 2019

08 October 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI gradually declined despite it tried to rebound but only tipped at 1565 and then had a weak close at 1555 at day end. The market is getting weaker as both the cash and index markets are gradually declining and recorded new lows.


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Plan A : Continue to sell as long as the market stays below 1560
Plan B : Cut above 1565
Plan C : Consider buying if market tested and rebounds from 1548
Plan D : Cut below 1543



FCPO

FCPO prices stabilize above 2160's in the morning and attempted to breakthrough the resistance at 2170's. Whether it could come true today for a rebound, it is yet to see later. Dalian and soybean is mixed while Ringgit stays firm at RM4.18 against the greenback.

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Plan A : Buy if market supported firm above 2178. Targets are 2196 and 2215.
Plan B : Sell if market failed to support above 2162. Targets are 2149 and 2135.


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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