07 May 2021 BMD

                                      LOCAL MARKET

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FKLI

FKLI recovered from an early scare and settled down 0.5-point on Thursday with weakness in index-linked glove counters spooked the overall market. Market sentiment is expected to remain weak with sellers in waiting whenever there's any rebound/recovery in the market.

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Plan A : Remain sell as long as market stays trading below 1590. Targets are 1571.5 and 1555.

Plan B : Consider buy only if market supported firmly above 1571.5 and rebound. Targets are 1581.5 and 1587.

FCPO

FCPO marked another round of record high today at 4364. The prices stayed firm above 4300's the first session, not backing off for correction. Dalian closed +206 at 8026 while soybean oil traded +0.57 at 64.92. Ringgit hovers around RM4.11 to RM4.12 against the greenback.  

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Plan A : Long if market retraced but supported firm above 4306. Targets are 4325 and 4351. 

Plan B : Short if market failed to support above 4306. Targets are 4280 and 4256.

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.