09 August 2021 BMD

                                LOCAL MARKET

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FKLI    

FKLI finished the week in the red amid selling in heavyweight counters with investors concern with rising COVID-19 cases worldwide. However, tracking the recovery in the U.S. and the announcement from our PM over the weekend on SOP relaxations for fully vaccinated citizens will give market a positive opening today.

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Plan A : Attempt long if market trades firmly above 1483. Targets are 1489.5 and 1498.5.

Plan B : Consider short if market surges but fails to breach above 1498.5. Targets are 1489.5 and 1484.

FCPO

FCPO surged to 4300's again in the afternoon trying to set its footing above 4300-mark. Dalian closed +106 at 8530 while soybean oil traded +0.49 at 61.76. Ringgit stays at RM4.22 against the greenback.

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Afternoon Plan

Plan A : Long if market retraced but supported firm above 4279. Targets are 4301 and 4322.

Plan B : Short if market failed to support above 4279. Targets are 4255 and 4232.

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.