Monday, March 15, 2021

16 March 2021 BMD

                                     LOCAL MARKET


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FKLI 

FKLI closed higher amid bargain hunting with optimistic market sentiment of domestic economic recovery.

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Plan A : Remain buy as long as market holds firmly above 1613. Targets are 1619 and 1627.

Plan B : Consider short only if market surges but fails to breach above 1622. Targets are 1616 and 1613.


FCPO

FCPO dived the second session not long after opening following the reversal from the Dalian market. Dalian eventually closed -134 at 7874 while soybean oil traded -0.05 at 55.04. Ringgit stays at RM4.11 against the greenback.

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Afternoon Plan 
Plan A : Short if market rebounded but failed to support above 4009. Targets are 3985 and 3960.

Plan B : Long only if market supported firm above 4009. Targets are 4041 and 4065.



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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