FKLI Apr 18
Previous Close: 1869 -4
FKLI closed slightly below 1870 level yesterday as profit taking in stock market, mainly by foreign fund. US stock market up near 300pts yesterday, FKLI may open high later and retest previous high around 1876.5.
Daily chart show an overall sideway to higher ascending triangle pattern, wait for breakout, but stay cautious as divergence with RSI remains. Close above 1876.5 to trigger further rebound signal.
Classic Support & Resistance
Resistance: 1876.5 1885
Support: 1863.5 1852 1843
Recommend Trading Plan for the day:
1. Look for buy signal if break above 1876.5.
2. Sell 1867 for correction, stop 1872, profit 1862/1857.
FKLI Margin Requirement
Intraday MYR 2000
Overnight MYR 4000
Spread MYR 500
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[9:14 AM, 4/13/2018] +60 17-734 3252: Happy Trading (13 April 2018)
DJIA +293.6 (24483.05)
US 10-Yr Bond Yield +0.053 (2.843%)
Gold -18.1 ($1341.9)
News Update:
US stocks jumped and closed higher as Syria concerns eased and bank shares led gains including J.P. Morgan Chase, Citigroup and Goldman Sachs ahead of earnings.
WTI Crude: +0.25 ($67.07); Brent:-0.04 ($72.02)
Oil prices pared losses and closed higher on mounting political tension after a report that Saudis intercepted another missile attack over Jazan.
Europe
European stocks surged as concerns over potential military conflict in Syria eased after President Donald Trump clarified his position and earnings season start.
Asia
China stocks dipped as weakness in financial and transport stocks amid rising Middle East tensions. While Hong Kong shares pared gains and closed lower as investors remained cautious amid rising tensions in the Middle East.
Japanese shares dropped as worries about possible US military action against Syria weighed on investors risk appetite while retail sector was in focus on earnings releases.
Upcoming Events:
3.00am GBP BOE Gov Carney Speaks
11.00am CNY Exports, Imports and Trade Balance
2.00pm EUR Trade Balance
10.00pm USD Prelim UoM Consumer Sentiment & Inflation Expectations
FKLI (KLCI: 1873.62)
-market pared gains and closed lower on last minutes buying in blue-chip stocks including KLK,, Petronas Gas Bhd, Hong Leong Bank Bhd and Hong Leong Financial Group Bhd
-market likely to move lower if market stays below 1870; target market range 1850-1870
-support level:
S1 1865 S2 1859 S3 1853
-resistance level:
R1 1870 R2 1876 R3 1882
-yesterday daily settlement: 1869
strategy 1: Short if stay below 1865
tg stop 1871
tg exit 1847
strategy 2: Long if stay above 1875
tg stop 1869
tg exit 1893
FCPO
-market pared losses and closed lower as weakness in related edible oils and Iceland's move to ban palm oil products
-market likely to move higher if market stays above 2420; target market range 2420-2460
-support level:
S1 2420 S2 2408 S3 2396
-resistance level:
R1 2430 R2 2442 R3 2454
-yesterday daily settlement: 2423
strategy 1: Long if stay above 2425
tg stop 2413
tg exit 2461
strategy 2: Short if stay below 2405
tg stop 2417
tg exit 2369
* DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK *
