16 July 2024 BMD

                                              LOCAL MARKET

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FKLI

At midday, the benchmark index was down 3.9 points to 1,625.92 just a fraction off its intraday low after hitting a high of 1,633.97 earlier in the day. The domestic market was red across sectors, weighed down by 680 decliners compared to 382 gainers. The share turnover was 2.81 billion crossing hands for RM1.69bil.

Plan A : Consider long if the market stays above 1624. Targets are 1630 and 1637.

Plan B : Attempt short if the market stays below 1624. Targets are 1616 and 1609.

FCPO

 

FCPO recovered, testing the resistance around 3940. Dalian traded +112 at 7820 while soybean oil traded +0.4 at 45.31 for the day. Ringgit strengthen to 4.67 against the greenback.

Plan A : Long only if market supported above 3920. Targets are 3960 and 3986.

Plan B : Short if market fail to support above 3920. Targets are 3892 and 3872.

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.