Wednesday, August 12, 2020

13 August 2020 BMD

                               We are expanding to global markets. 

 See next article for the trade plan.

LOCAL MARKET

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FKLI


Market was under immerse selling pressure yesterday with glove counters taking the lead down. FKLI went to an intraday low of 1541 before settling at 1551 for close. Market is expected to open slightly higher today amid triple digit gains from overnight Dow. Gains however could be capped if profit taking selling in cash market to be continued today.


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Plan A : Short if market recovers but still trades below 1566. Targets are 1557 and 1551. Cut above 1571.

Plan B : Consider buy only if the market recovers and stays firm above 1553. Targets are 1561 and 1566. Cut below 1548.




FCPO

FCPO surged to almost 100 points after opening and it slowly retraced back to 2720's. Dalian closed +104 while soybean oil +0.15. Ringgit stays at RM4.18 against the greenback.


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Plan A : Long if market retraced but supported firm above 2720. Targets are 2742 and 2765.

Plan B : Short if market failed to support above 2720. Targets are 2698 and 2675.  




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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