11 August 2021 BMD

                                    LOCAL MARKET

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FKLI    

FKLI gained 8-points on Monday following the announcement on SOP relaxation for fully vaccinated individual over the weekend. Bargain hunting were seen but wasn't enough to push market beyond its resistance level of 1501. Market is expected to test this resistance level this week but sustainability of it would be questioned.

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Plan A : Attempt long if market trades firmly above 1489.5. Targets are 1498.5 and 1501.5.

Plan B : Consider short if market surges but fails to breach above 1501.5. Targets are 1493 and 1489.5.

FCPO  

FCPO surged the second session following the hike in the regional markets. Market climbed back to near recent highs at 4490, trying to root its footing above 4400-mark. Dalian closed +436 at 8994, recorded new high while soybean oil traded +1.45 at 62.07. Ringgit stays at RM4.23 against the greenback. 

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Afternoon Plan 

Plan A : Long if market retraced but supported firm above 4438. Targets are 4461 and 4489.

Plan B : Short only if market failed to support above 4438. Targets are 4415 and 4395.

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.