Bollinger band reading : bearish.
MACD Histrogram : getting slightly lower, sellers still in charge
Support : 1260, 1253, 1230 level.
Resistant : 1267, 1274, 1280 level.Comment :
Pull back effect took place today on FKLI with higher volume transacted indicated that last Friday dropped was way overdone. Despite the bearish reading shows on the daily chart basis, the pullback effect could still continue to take place in the near term with some test at the resistant and support level thus expect market to trade side way range bound downside biased.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with larger cut loss and profit target
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