Bollinger band reading : upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 1375, 1360, 1350 level.
Resistant : 1385, 1395, 1405 level.
Comment :
Hit another year high FKLI rallied higher with lesser volume changed hand after cash market continue to surge higher due to gain in several heavy weight counters especially banking stock as market speculating another round of interest rate hike by Bank Negara. Hourly chart shows that market continue to surge higher without taking any time off with the reading still call for a upside biased market. But having said that the lack of volume transacted raised some doubt about the upward movement momentum sustainability that could triggered a possible pullback downward correction.
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