Bollinger band reading : side way range bound upside biased.
MACD Histrogram : turned downward, buyer reducing exposure.
Support : 1500, 1485, 1470 level.
Resistance : 1515, 1530, 1550 level.
Comment :
Slightly improved volume FKLI closed recorded loss while regional market ended mixed after surprise China central bank official raised interest rate by 25 basis point on 26 Dec 2010.
Daily chart formed 4th doji bar candle with small body after market traded range bound within a 4 points range market with the reading suggesting a side way 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.
2 comments:
Hi Mr Chong,
I do follow your blog daily. Thank you for the update. What's is your view on the sudden surge of FKLI today?. I have 2 short pos at 1520 and 1517 for Jan 2011. Should I cut or wait.
Like it or not you are having position that against the underlying uptrend thus for that reason you should get out of your position to prevent further damage to your capital. Purely my own personal opinion. I could be wrong. =)
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