Bollinger band reading : range bound upside biased.
MACD Histrogram : buyer taking exposure cautiously.
Support : 1500, 1485, 1470 level.
Resistant : 1530, 1550, 1580 level.
Comment :
FKLI continue to trade firmer recorded gain with lower volume transacted as major regional market traded mildly positive except ShangHai exhcanged due another rate hike anticipation by China central bank. Daily chart formed an up doji bar candle with longer lower shadow(not a hanging man) positioned above upper Bollinger band resistant level with the band width just started to turned outward suggesting a range bound upside biased market development testing higher resistant level should the band width continue to expand further, else a pullback correction could take place soon.
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.
No comments:
Post a Comment