17 May 2021 BMD

                                 LOCAL MARKET

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FKLI

Market was lackluster going into long Hari Raya holiday last week but still managed to around the MA200 level. Market was lucky to escape panic sell down on Thursday as U.S. markets were down heavily on Wednesday night but recovered strongly for both Thursday and Friday. 

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Plan A : Remain sell as long as market stays trading below 1582. Targets are 1571.5 and 1565.

Plan B : Consider long only if market able to hold firm above 1571.5 and rebound. Targets are 1579.5 and 1582.

FCPO

FCPO opened lower this morning after a long festive holiday. Dalian closed -84 at 8086 while soybean oil traded -0.04 at 67.54. Ringgit stays at RM4.12 against the greenback.

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Afternoon Plan 

Plan A : Short if market failed to support above 4247. Targets are 4220 and 4190.

Plan B : Long if market supported firm above 4247. Targets are 4268 and 4290.

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.