20 May 2021 BMD

                                     LOCAL MARKET

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FKLI

FKLI fell 12.5-points as most component stocks succumbed to selling pressure amid rising COVID-19 cases in Malaysia. Market most likely going to open slightly positive after overnight U.S. markets recovered way off from its intraday low.

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Plan A : Remain sell as long as market stays trading below 1582. Targets are 1571.5 and 1567.

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

FCPO

FCPO briefly touched 4218 in the morning, it then rebounded  to 4311 the second session. Dalian closed -100 at 8102 while soybean oil traded +0.60 at 67.07. Ringgit stays at RM4.14 against the greenback.  

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Plan A : Long if market supported firm above 4291. Targets are 4312 and 4341.

Plan B : Short if market failed to support above 4291. Targets are 4269 and 4245.

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.