Bollinger band reading : corrention range bound downside biased.
MACD Histrogram : recovering, seller reducing position.
Support : 1485, 1480, 1470 level.
Resistance : 1500, 1515, 1530 level.
Comment :
FKLI closed recorded loss with higher volume transacted doing 6.5 points discount compare to cash market after overnight Dow Jones market closed lower plus a getting worst Libya and middle east condition pressuring a higher crude oil prices while regional market closed lower.
Daily chart formed a down doji bar candle with long lower shadow after market opened gap down tested lower level and recovered to close off the low positioned in the middle between lower and middle Bollinger band.
Reading wise suggesting a correction range bound downside biased market development testing support and resistance level with a potential MACD Histrogram positive divergence forming.
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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