Monday, October 28, 2019

29 October 2019 BMD

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

LOCAL MARKET

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FKLI

The market failed to sustain above 1570's as it gradually declined and closed at the lowest point of the day just before the long weekend holidays. The range play may still continues between 1560-1580's as the market is lacking new boosting catalysts.

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Plan A : Attempt to buy if market rebounds from 1570. Cut below 1566.
Plan B : Targets are 1573.5, 1576 and 1579.
Plan C : Sell if market does not breach above 1577. Cut above 1581.
Plan D : Targets are 1574, 1571 and 1568.


FCPO

FCPO opened gap up with a wild swing before stabilizing around 2420's to 2430's. Dalian closed slightly positive and soybean oil remain flat for the day. Ringgit stays at RM4.18 against the greenback. 

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Plan A : Short if market failed to support above 2432. Targets are 2419 and 2408.
Plan B : Long if market retraced but supported firm above 2398. Targets are 2412 and 2425.
Plan C : Long if market doesn't retrace much and supported firm above 2432. Targets are 2445 and 2459.


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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