Wednesday, February 26, 2020

27 February 2020 BMD

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

LOCAL MARKET

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FKLI

Despite the FKLI rebounded to 1512.5 yesterday, but it failed to sustain above 1500's and closed at 1495.5 at the end of the day. The uncertainty of the internal political issues added more burden to the market apart from the rising cases in the virus outbreak in the global world.

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Plan A : Continue to short if market stays below 1501. Targets are 1497.5, 1494 and 1490.5.
Plan B : Cut above 1505.
Plan C : Long if market rebounds from 1496. Targets are 1499, 1502 and 1505.
Plan D : Cut below 1491.




FCPO


FCPO continue to stay low after a dive to 2393 yesterday. Dalian and soybean are mixed while Ringgit stays at RM4.20 against the greenback.


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Plan A : Short if market rebounded but resisted around 2452. Targets are 2431 and 2405.

Plan B : Long only if market rebounded and supported firm above 2452. Targets are 2469 and 2482.
Plan C : Short if market doesn't rebound much and failed to support above 2422. Targets are 2405 and 2388.   





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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