Monday, November 19, 2012

20121119 1746 FKLI EOD Daily Chart Study.

FKLI closed : 1616.5 changed : -3.5 points, volume : higher.
Bollinger band reading : downside biased with possible pullback correction.
MACD Histogram : recovering, seller taking partial profit.
Support :  1615, 1600, 1595, 1590 level.
Resistance : 1623, 1627, 1635, 1640 level.
Comment :
FKLI closed recorded loss again with slightly better volume exchanged  doing 6.5 points discount compare to cash market that closed lower. Last Friday U.S markets closed higher and today Asia markets performance better while European markets currently trading in positive territory.
Most regional markets advance higher as U.S. President Obama expressed confident will reach budget agreement with the U.S. congress. Back home KLCI continue to closed weaker as most top 30 counters traded lower.
FKLI daily chart reading revised to suggesting a downside biased market development with possible pullback correction.
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.

No comments: