Sunday, May 30, 2021

31 May 2021 BMD

                                     LOCAL MARKET


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FKLI

FKLI gained 13.5-points on Friday on late minute buying tracking gains in Asian markets. However, with a sudden implementation of nationwide full lockdown announced by our Prime Minister, market is expected to be volatile today with risk skewed towards the downside. 

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Plan A : Attempt sell if market trades below 1571.5. Targets are 1564 and 1555.

Plan B : Consider long only if market supports above 1555 and rebound. Targets are 1564 and 1571.5.



FCPO

FCPO is pressurized since morning following the volatile regional markets. Dalian closed -92 at 7546 while soybean oil is closed for Memorial Day. Ringgit stays at RM4.13 against the greenback.  

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Plan A : Long if market supported firm above 3931. Targets are 3952 and 3975.

Plan B : Short if market failed to support above 3931. Targets are 3910 and 3882.



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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