Wednesday, January 1, 2020

02 January 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI had a huge decline by dipping down to below 1600's and settled at 1591 on the last trading day of 2019. The index was partially dragged down by the profit-taking in the KLCI counters whereby most of the investors were clearing off for the new year.

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Plan A : Attempt to long if markets rebounds from 1598. Cut below 1594.
Plan B : Targets are 1601.5, 1605 and 1608.
Plan C : Attempt to short if market recovers but does not breach above 1606. Cut above 1609.5.
Plan D :Targets are 1602.5, 1599 and 1595.5.



FCPO

FCPO surged from 3043 and tip-off at 3123 towards the second session. Dalian closed negative while Ringgit strengthen at RM4.08 against the greenback.   

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Plan A : Long if market supported firm above 3097. Targets are 3111 and 3129.
Plan B : Short if market failed to support above 3097. Targets are 3084 and 3072.



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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