20 August 2024 BMD

                                                LOCAL MARKET

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FKLI

The FBM KLCI slipped into the red as profit-taking activities pressured the market after the recent surge in equities prices. The benchmark was down 2.98 points at 1,645.72 as trade was halted for the lunch break. Over the early session, the index had traded within a 23-point band of 1,637.45 to 1,660.29

Plan A : Consider long if the market stays above 1638. Targets are 1644 and 1652.

Plan B : Attempt short if the market stays below 1638. Targets are 1630 and 1624.

FCPO

 

FCPO recovered, testing the resistance around 3640. Dalian traded +108 at 7638 while soybean oil traded -0.32 at 38.76 for the day. Ringgit strengthen to 4.37 against the greenback.

Plan A : Long only if market supported above 3700. Targets are 3720 and 3744.

Plan B : Short if market fail to support above 3700. Targets are 3680 and 3652.

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.