Tuesday, November 12, 2019

13 November 2019 BMD

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

LOCAL MARKET

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FKLI

FKLI surged in the second session to the peak of 1618 as per boosted by the recovery in the KLCI and then closed at 1613 at the end of the day. The market is being pressured by the greater buying pressure and is being supported well above 1600's.

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Plan A : Continue to hold long as long as market stays above 1608.5. Cut below 1604.
Plan B : Targets are 1611, 1614 and 1617.
Plan C : Continue to sell if market does not breach above 1618. Cut above 1622.
Plan D : Targets are 1615, 1612 and 1609.


FCPO

FCPO closed above 2600 after a brief visit to 2594 over yesterday's second session. Dalian and soybean is mixed while Ringgit hovers around RM4.13-RM4.14 against the greenback.

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Plan A : Short if market rebounded and resisted around 2615. Targets are 2599 and 2584.
Plan B : Long only if market retraced later supported firm above 2584. Targets are 2598 and 2612.
Plan C : Short if market failed to support above 2584. Targets are 2570 and 2555.
 

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 prospectivinvestor 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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