02 March 2021 BMD

                                     LOCAL MARKET

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FKLI    

FKLI lost 7-points on Monday amid continued selling pressure in glove manufacturing counters following further development on COVID-19 vaccinations. However, play in recovery theme stocks helped cushion the fall. Market is expected to open firmer today after overnight Dow gained 603-points but once again sustainability of it would be questioned.

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Plan A : Remain sell as long as market stays below 1576. Targets are 1569 and 1561. 

Plan B : Consider long only if market supports above 1569. Targets are 1576 and 1583.

FCPO

FCPO dived at open and continue to stay low throughout the session. Dalian closed -258 at 7364 while soybean oil traded -0.50 at 48.73. Ringgit stays at RM4.05 against the greenback.

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Plan A : Long only if market supported firm above 3636. Targets are 3659 and 3681.

Plan B : Short if market rebounded but failed to support above 3636. Targets are 3615 and 3592.

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.