10 May 2021 BMD

                                      LOCAL MARKET

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FKLI

FKLI rebounded strongly from an intraday low of 1569 to settle at 1588 on Friday with buying support came from glove counters. Market might continue its recovery today but upcoming long Hari Raya holidays might cap gains.

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Plan A : Remain buy as long as market trades firmly above 1581.5. Targets are 1590 and 1598.

Plan B : Consider short if market surges but fails to breach above 1598. Targets are 1590 and 1586.

FCPO

FCPO dived below 4300 the second session after a long stretch of upside over the past few weeks. Dalian closed -26 at 7954 while soybean oil traded -0.97 at 63.51. Ringgit strengthen against the greenback at RM4.10. 

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Plan A : Short if market failed to support above 4329. Targets are 4298 and 4275.

Plan B : Long only if market supported firm above 4329. Targets are 4351 and 4373.

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.