Friday, November 2, 2012

20121102 1751 FKLI EOD Daily Chart Study.

FKLI closed : 1649 changed : -23 point, volume : higher.
Bollinger band reading : correction range bound little downside biased.
MACD Histogram : falling lower, buyer reducing exposure.
Support :  1645, 1640, 1635, 1627 level.
Resistance : 1651, 1657, 1660, 1670 level.
Comment :
FKLI closed plunged substantially lower with higher volume participation doing 7 points discount compare to cash market that also closed recorded significant loss. Overnight U.S. markets closed higher and today Asia markets ended positively while European markets currently trading little lower.
Overnight positive data from U.S. manufacturing, consumer confident and lower jobless claim send today Asian markets trading higher. Back home, FBMKLCI fall lower as some blue chips counter like BAT and Dutch Lady slumped down.
FKLI daily chart wise, reading revised to suggesting a side way range bound little downside 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.

No comments: