Wednesday, March 24, 2021

25 March 2021 BMD

                                  LOCAL MARKET


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FKLI

FKLI closed higher on Wednesday as investors engaged in bargain hunting activities drove price above the 1600-level. Market is expected to open lower today after a last minute reversal in overnight U.S. markets but ability to hold up above 1596-level would bring cheers to buyers.

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Plan A : Attempt short if market do a technical rebound but fails to breach above 1609. Targets are 1601 and 1596.

Plan B : Consider long only if market holds firm above 1596 and rebound. Targets are 1601 and 1608.




FCPO

FCPO opened higher this morning but later pressured to hover around the 3900's borders. Dalian closed -18 at 8016 while soybean oil traded -0.31 at 57.17. Ringgit weakened against the greenback at RM4.14.

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Afternoon Plan
Plan A : Long if market supported firm above 3911. Targets are 3933 and 3955.

Plan B : Short if market rebounded but failed to support above 3911. Targets are 3889 and 3868.



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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