Bollinger band reading : correction range bound.
MACD Histrogram : getting lower, buyer taking profit and reducing position.
Support : 1485, 1470, 1458 level.
Resistant : 1500, 1530, 1550 level.
Comment :
Power slam dunk! Heavy selling pressure FKLI dived deep recorded loss with ultra high volume traded as buyer locking in profit and closing position in unison with regional market that traded all in red negative territory as US Dollar continue to traded stronger. Daily chart formed a huge wide range down bar candle with a 11.5 points lower shadow(probably due to margin call force selling or stop triggered) touched lower Bollinger band level doing a significant correct after the recent rally. Reading wise, market started to turned into a correction side way range bound market development testing support and resistant 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.
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