Wednesday, June 3, 2020

04 June 2020 BMD

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

LOCAL MARKET

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FKLI

FKLI climbed steadily near 3% after a slight plunge to below 1500's due to the fall in the gloves maker counters, however it was then later boosted by the banking sectors and regional markets.

FKLI shows a strong support to stay firm above 1500's despite it went slightly lower, but it rebounded with strong buying pressure.

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Plan A : Attempt to short only if market fails to breach above 1552. Targets are 1548, 1544 and 1541. Cut above 1556.

Plan B : Continue to long as long as market holds firm above 1535.5. Targets are 1539, 1544 and 1548. Cut below 1530.




FCPO

FCPO gap-down this morning, attempted a recovery mid-afternoon but market is still uncertain of its direction as of now. Dalian closed +38 at 4916 while soybean oil -0.23. Ringgit stays at RM4.27 against the greenback.

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Plan A : Long if market doesn't retrace much and supported firm above 2377. Targets are 2395 and 2412.

Plan B : Short if market failed to support above 2377. Targets are 2353 and 2330.


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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