Thursday, June 24, 2021

25 June 2021 BMD

                                 LOCAL MARKET


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FKLI

Contrary to other regional markets, Malaysia markets were seen weak with FKLI losing 12.5-points on Thursday to settle at 1552.5-level. Although market might open higher today amid strong overnight U.S. markets, gains could be capped with investors remain cautious due to domestic fluid politics and also potential for FMCO extension.

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Plan A : Remain short as long as FKLI trades below 1569 consistently. Targets are 1552.5 and 1545.5.

Plan B : Consider long only if market trades firmly above 1552.5 and rebound. Targets are 1559.5 and 1569.



FCPO

FCPO stabilized above 3400-mark today, trying to breach above 3500's. Dalian closed +82 at 7018 while soybean oil traded +0.37 at 60.53. Ringgit stays at RM4.15 against the greenback.

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Plan A : Long if market supported firm above 3490. Targets are 3515 and 3539.

Plan B : Short if market failed to support above 3490. Targets are 3468 and 3442.




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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