Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer testing market.
Support : 1515, 1500, 1485 level.
Resistance : 1530, 1540, 1550, 1580 level.
Comment :
Rallied FKLI closed recorded gain with increasing volume changed hand doing about 2.5 points discount to cash market while regional and US overnight market closed higher after US official announced a better than expected unemployment data.
Daily chart formed an up doji bar candle with long upper shadow after market opened gap up, surge higher triggered some short covering testing upper Bollinger band level, following by profit taking activities press price lower surrendered some earlier gains to close near the low of the day ahead of the weekend.
Chart wise, the reading turned to suggesting a side way range bound market development testing support and resistance level with MACD Histrogram positive divergence still valid and confirmation of positive MACD cross up.
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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