Bollinger band reading : correction range bound upside biased.
MACD Histrogram : weakening, buyer reducing position.
Support : 1560, 1550, 1530 level.
Resistance : 1570, 1580, 1590 level.
Comment :
FKLI closed recorded loss with higher volume traded despite regional market ended mostly positive after IBM and Apple reported a better than estimated earnings.
Daily chart formed a down bar candle with lower shadow after market opened gap up and traded downward followed by last minutes small recovery positioned nearer and nearer to the middle Bollinger band support level with the reading remain 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.
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