HSI Futures
U.S. stocks ended low yesterday after comment from New York Fed President stating the possibility of rate hike as soon as June.
Dow closed down 91 points while S&P and NASDAQ down 7 points and 26 points respectively following the comment.
Hang Seng flattened after the sell off in the morning. Overview for Hang Seng is still lying on a sell trend though there were effort of rebounding over the past three days.
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Plan A : Sell if market rebounded and resisted at 19864. Targets are 19613 and 19518.
Plan B : Buy if market stabilized and supported above 19713. Targets are 19864 and 19984.
Plan C : Above 19864, no fresh position.
Plan D : Below 19713, no fresh position.
FKLI
Market flattened on Thursday but the overview has formed a support for an upside though Ringgit being weak. Looking at the morning movement today, it is likely to repeat the consolidation play like yesterday. Buyer may want to wait for market to stabilize before entering a position.
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Plan A : Sell if market rebounded and resisted around 1636. Targets 1628 and 1627.
Plan B : Buy if market supported above 1625. Targets are 1634, 1636 and 1641.
Plan C : Above 1636, no fresh position.
Plan D : Below 1625, no fresh position.
FCPO
FCPO rebounded from previous day low to high of 2576 on Thursday but the sell off came in during the second session with no mercy. Dalian and soybean oil are slightly weak today while Ringgit weakened to RM4.07 against the greenback.
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Plan A : Buy if market opened gap down and supported above 2463 during the opening hour. Only buy near support and place a stop. Targets are 2481 and 2504.
Plan B : Sell if market rebounded and resisted around 2522. Targets are 2499 and 2463.
Plan C : Above 2522, no fresh position.
Plan D : Below 2463, no fresh position.
*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters 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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