4.5 points range FKLI market ended the week at 1256, up 2 points compare to yesterday despite better regional market performance. Selangor's holiday also contributed to the thin volume traded today. At closed, today doji bar position still stay below the middle Bollinger band and the band width nearly unchanged = market sentiment remain weak thus is likely to move downward biased. MACD Histrogram falling has paused today = partial seller covering some short position today ahead of the weekend. Daily chart wise, the market do looks bearish sided but having said that, market can potentially having a pullback effect after price hitted the lower Bollinger band and the band width seems stop expanding. Immediate resistant rest at the middle Bollinger band and should market continue to fall further, support stands at 1243 follow by 1232 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/break down with larger cut loss and profit target.
No comments:
Post a Comment