Friday, October 12, 2012

20121012 1739 FKLI EOD Daily Chart Study.

FKLI closed : 1653 changed : -4 points, volume : higher.
Bollinger band reading : pullback correction upside biased. 
MACD Histogram : weakening, buyer closing position. 
Support : 1651, 1645, 1640, 1635 level.
Resistance : 1657, 1660, 1670, 1680 level.
Comment :
FKLI closed recorded loss with better volume traded almost on par with cash market that closed little lower. Overnight U.S. markets closed flat and today Asia markets ended mostly recorded little gains while European markets currently trading little lower. 
Asia markets traded little higher after lower U.S. jobless claims data and reduce tension between China and Japan after both parties agreed to hold discussion over island dispute. Back home, lower overnight industrial production and  manufacturing index data continue to keep investors at sideline and reducing exposure ahead of the weekend. 
Malaysia FKLI daily chart study still suggesting a pullback correction upside biased market development. 
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.

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