Thursday, September 3, 2020

4 September 2020 BMD

 We are expanding to global markets 

 See next article for the trade plan

LOCAL MARKET

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FKLI

FKLI plunged 36-points yesterday to close at 1502.5. Market is expected to open gap down today after a disappointing overnight U.S. markets. Panic selling can be expected in the morning but do consider to bargain buy if FKLI stays firm above 1584-level. Technical rebound likely to happen with dare devils sweeping cash counters after a panic sell opening. 

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Plan A : Short if market recovers but fails to breach above 1499. Targets are 1490 and 1484. Cut above 1503.

Plan B : Consider buy only if the market stays firm above 1484. Targets are 1494 and 1499. Cut below 1480.



FCPO

FCPO opened lower this morning, rebounded to 2873 and continue to hover around the same range again like yesterday despite the surge at the last trading hour. Dalian closed +6 at 5960 first session while the soybean oil +0.09. Ringgit stays at RM4.14 against the greenback.

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Plan A : Short if market failed to support above 2855. Targets are 2830 and 2809.

Plan B : Long if market retraced but supported firm above 2802. Targets are 2825 and 2848.




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 correction, 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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