Bollinger band reading : bearish.
MACD Histrogram : dive deeper, bear is in town.
Support : 1232, 1228, 1222 level.
Resistant : 1238, 1250, 1260 level.
Comment :
Mr. Bear expand it's claw today and turned fierced punishing all the buyer. Ended today with a wide down bar candle supported with high volume, FKLI daily chart and all indicators reading remained bearish but seems a little overdone that could possibly triggered a pullback upward correction before drilling deeper. Expect market to trade side way range bound downside biased.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with larger cut loss and profit target.
No comments:
Post a Comment