Tuesday, November 26, 2019

27 November 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 from the peak at 1598 ysterday and closed at almost day's low as the selling pressure was boosted by the weak KLCI. However, market is advised to have technical rebounds due to the rise in the U.S. markets from the Black Friday sales.

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Plan A : Attempt to long if market rebounds from 1584.5. Cut below 1581.
Plan B : Targets are 1587, 1590.5 and 1594.
Plan C : Attempt to sell if markets recovers but does not breach above 1594.5. Cut above 1598.
Plan D :Targets are 1591, 1588 and 1585.


FCPO

FCPO declined more than 2% yesterday with the contribution from weak Dalian and bean. The decline may still continue today as Dalian and bean continue to go negative.

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Plan A : Long only if market tested and rebounds from 2607. Targets are 2615, 2630 and 2645.
Plan B : Continue to hold short as long as market does not breach above 2648. Targets are 2635, 2620 and 2610.

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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