FKLI closed : 1300.5, changed : -0.5 point, volume : lower.
Bollinger band reading : bullish but side way.
MACD Histrogram : getting lower, seller taking some chances.
Support : 1300, 1295 level.
Resistant : 1309, upper Bollinger band level.
Comment : Tested the previous high but closed at the low doesn't looks good for FKLI to surge upward further. Feels like there is no buyer willing to take a bet at higher price level but instead choose to lock profit for their previous long positions with seller taking some chances at this level partially. Despite daily chart still shows that the uptrend remained intact, it does looks weak here with a possible negative divergence forming should a cross down happen to the MACD indicator. Expect market to trade side way range bound with some testing of support at the 1300 level.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
No comments:
Post a Comment