Tuesday, May 26, 2020

27 May 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI declined to 1420's and closed at 1438.5 as most of the investors chose to exit the market before the long weekend started in conjunction of Hari Raya. The market has attempted several times last week but still failed to breach above 1449. We will see if the market be able to breakthrough this resistant level today as the overnight Dow closed more than 2% in green.

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Plan A : Attempt to short if market still does not break above 1449. Targets are 1445, 1441 and 1437. Cut above 1453.

Plan B : Long if market stays firm above 1437.5. Targets are 1442, 1445.5 and 1449. Cut below 1434.



FCPO

FCPO opened high due to the surge in overnight soybean oil, later refuse to retrace and stay firm above 2220's the first session. Dalian closed +70 first half while soybean oil -0.11. Ringgit stays firm at RM4.35 against the greenback.

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Plan A : Long if market supported firm above 2219. Targets are 2241 and 2265.

Plan B : Short if market failed to support above 2219. Targets are 2195 and 2172.




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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