Bollinger band reading : side way correction upside biased.
MACD Histrogram : reversed downward, buyer taking profit.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
Over reaction on China Yuan revaluation yesterday plus profit taking activities lead FKLI to eased lower closing near the low of the day in nearly half of yesterday volume transacted. Daily chart shows that correction is taking place after yesterday surged with an upside biased reading.
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.
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