Bollinger band reading : bullish.
MACD Histrogram : reverse upward. buyer turned aggresive.
Support : 1300, 1295, 1290 level.
Resistant : 1307, 1315, 1325 level.
Comment :
Seems like market is welcoming the Bank Negara rate hike announcement that indicate our country economy is getting better to a certain extend and banks are direct beneficiary of this move with few banking stocks flying high today. FKLI also traded strongly that ended on 4 points premium against cash market with higher volume transacted. The same goes to daily technical chart that shows a bullish outlook with crucial resistant at previous January high. Expect market to trade upside biased with possible side way market for consolidation.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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