Tuesday, October 23, 2012

20121023 1723 FKLI EOD Daily Chart Study.

FKLI closed : 1669.5 changed : +5.5 points, volume : lower.
Bollinger band reading : correction range bound upside biased.
MACD Histogram : turned upward, buyer seller battling.
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded gain with slower volume changed hand doing 4.5 points premium compare to cash market closed little higher. Overnight U.S. markets closed flat and today Asia markets ended mixed while European markets currently trading lower.
Missed forecast corporate earnings reports, 5 Spanish's region downgrade by Moody's and yesterday Japanese exports slump still having negative impact to today's world markets performance. Back home, KLCI closed little higher on selected blue chip counters gain and positive news on Bank Negara international reserves recorded slightly increase.
FKLI daily chart study remained suggesting a correction range bound 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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