Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : rising, seller leaving.
Support : 1500, 1485, 1480 level.
Resistance : 1515, 1530, 1550 level.
Comment :
FKLI closed recorded gain recovered at yesterday loss with higher volume traded doing about 1.5 point premium to cash market after while regional market closed mostly higher.
Daily chart formed an up doji bar candle with longer upper shadow after market opened gap up and surge higher tested resistance level and eased lower slightly to close off the high closing little above middle Bollinger band while the bandwidth started to turn inwards.
Technical reading suggesting a correction range bound little downside biased market development with MACD Histrogram positive divergence forming plus an almost positive MACD cross up.
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