Monday, May 3, 2021

04 May 2021 BMD

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                                   LOCAL MARKET


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FKLI

FKLI stayed downbeat on 1st trading day of May as investors still cautious with the prospect of MCO 3.0 which is expected to be announced later today. Any rebound might present an opportunity to sell as market look likely to remain weak for the time being.

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Plan A : Remain sell as long as market stays trading below 1599. Targets are 1590 and 1581.5.

Plan B : Consider buy only if market supported firmly above 1590 and rebound. Targets are 1598 and 1601.



FCPO

FCPO opened lower today, rebounded back above 4000 not long after. Soybean oil traded +0.12 at 63.18 while Ringgit stays at RM4.11 against the greenback.


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Plan A : Long if market supported firm above 4053. Targets are 4075 and 4100.

Plan B : Short if market failed to support above 4053. Targets are 4030 and 4011. 




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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