Wednesday, May 27, 2020

28 May 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI rallied to the tip at 1461.5 with the contribution from the overnight Dow. However, the market failed to sustain above this level and gradually declined to 1445.5 before it then climbed to close at 1453.5. 

With the firm close of more than 500-points from the overnight Dow, we can expect FKLI to have a higher opening today but we shall see if it can sustain above 1450's.


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Plan A : Attempt to short if marketdoes not break above 1466. Targets are 1461, 1457 and 1451. Cut above 1470.

Plan B : Long if market stays firm above 1453.5. Targets are 1457, 1461 and 1465. Cut below 1449.



FCPO

FCPO had a brief touch at 2300 today before sliding back to 2240's. Market is taking a breather after a streak of gains the previous days. Dalian closed +94 ended 4738 while soybean oil -0.19. Ringgit stays at RM4.35 against the greenback.

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Plan A : Long if market supported firm above 2264. Targets are 2289 and 2312.

Plan B : Short if market failed to support above 2264. Targets are 2242 and 2218.



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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