HSI Futures

The S&P 500 closed flat on Wednesday as a mixed bag of corporate earnings failed to give investors the confidence to push equities higher with the index near record levels.

China shares chalked up their biggest daily gain in two months on Wednesday, lifting Hong Kong markets as cash rates in the mainland eased further after the Chinese central bank pledged to ensure stability in the money markets.

Market continued to be in consolidation mode without clear trading signal.

Plan A : Above 23206, do nothing

Plan B : Below 22967, do nothing

Plan C : Consider buying only if market opens low but supported well above 22967

Plan D : Cut below 22935

Plan E : Take profit around 23206 if it fails to breach through

Plan F : Consider selling around 23140 if it fails to breach above 23206

Plan G : Cut above 23206

Plan H : Take profit around 23033 if it stays firm

FKLI

FKLI attempted another rebound yesterday but once again failed. Market could be trading in a consolidation stage with 1795 acting as a temporary support while resistance stood firm at 1818

Plan A : Try selling around 1811-1815 level

Plan B : Cut above 1818

Plan C : Consider take profit around 1795-1797 if it stays firm above these levels

Plan D : Consider buying only if market dives to 1781 but rebound strongly

Plan E : Cut below 1777

FCPO

Market slipped to the low of 2563 yesterday at second session and closed at 2575. Overall outlook is still on a buy however, there is a strong resistance at 2585 to 2597 level. Weak ringgit capped the losses in crude palm oil prices.

Plan A : Range trade. Intraday investor could try to buy around the support of 2556 and sell if market trade around 2590 and could not break 2600. Place stop in case of market overshooting the range.

Plan B : Above 2600, do nothing.

Plan C : Below 2540, do nothing.

Plan D : Overnight buyer may hold on to position. Support 2544. Target 2608. 

Plan E : If you were looking to reinstate your buying position, may try around 2540's to 2550's level.  

*Disclaimer: This information is intended to assist professional investors. 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.