Wednesday, October 20, 2021

21 October 2021 BMD

                                  LOCAL MARKET


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FKLI  

FKLI remained bullish on Wednesday despite gaining only 2-points for the day. However, do expect profit taking activities to kick in especially if FKLI were to fail breaching above the 1610-1615 level convincingly.

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Plan A : Remain buy as long as market stays firm above 1601. Targets are 1610 and 1616.5.

Plan B : Consider short if market trades fails to breach and hold firm above 1610. Targets are 1601 and 1588.




FCPO

FCPO surged to a new high again at 5220 this morning following the decade high at Dalian market. Dalian closed +182 at 9830 while soybean oil traded -0.25 at 64.45. Ringgit stays at RM4.15 against the greenback.

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Plan A : Short if market failed to support above 5077. Targets are 5055 and 5034.

Plan B : Long if market supported firm above 5077. Targets are 5099 and 5120.




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, mining.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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