Sunday, March 22, 2020

23 March 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 fierce rebound on last Friday especially in the second session where both FKLI and KLCI closed above 1300's for the week. However, with US futures hit limit down on Sunday night, our markets may face another round of decline today.

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Plan A : Attempt to short if market opens below 1281.5. Targets are 1278, 1274.5 and 1271.
Plan B : Cut above 1285.
Plan C : Long only if market rebounds firmly from 1240. Targets are 1244.5, 1248 and 1252.
Plan D : Cut below 1236.

FCPO

FCPO staged a remarkable recovery last Friday despite failing to close above the 2300-level. Market must at least hold firm above 2280 to stand any chance of decoupling from the bear trend. Any falls below 2220 might spell troubles to the buyers

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Plan A : Long if market supported firmly above 2222. Targets are 2240 and 2260.

Plan B : Short if market fails to support above 2263. Targets are 2240 and 2222.

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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