Bollinger band reading : correction range bound upside biased.
MACD Histrogram : recovering, buyer holding on.
Support : 1485, 1470, 1458 level.
Resistant : 1500, 1530, 1550 level.
Comment :
A wild day FKLI recorded marginal gain traded in lower but still relatively high volume transaction(mostly rollover activities) after market tested new high and retreat lower closing off the high below 1500 psychological level. Daily chart formed a long upper shadow doji bar candle tested above upper Bollinger band resistant level with the reading remained suggesting a correction range bound upside biased market development.
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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