04 March 2021 BMD

                             LOCAL MARKET

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FKLI    

Bargain hunting activities pushed FKLI to gain 12-points on Wednesday with glove counters taking the lead after weeks of slump. Bank Negara Malaysia is due to meet for Monetary Policy Committee meeting today but economists are anticipating an unchanged stance on the Overnight Policy Rate.

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Plan A : Attempt sell only if market trades below 1576. Targets are 1570 and 1565. 

Plan B : Consider long only if market supports above 1568.5 and rebound. Targets are 1575 and 1586.

FCPO

FCPO opened slightly higher this morning later stabilized above 3700-mark. Dalian closed +116 at 7466 while soybean oil traded +0.54 at 50.32. Ringgit stays at RM4.05 against the greenback. 

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Plan A : Long if market supported firm above 3745. Targets are 3767 and 3788.

Plan B : Short if market failed to support above 3745. Targets are 3724 and 3701.

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.