FKLI closed : 1512 changed : +13.5 points, volume : higher.
Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : rising, buyer testing market.
Support : 1500, 1485, 1470, 1458 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
FKLI closed recorded gains with higher volume participation doing 3 points premium compare to cash market while overnight US and today regional market closed higher due to easing condition in Japan, continue Yen intervention and cease fire on Libya plus coming Sarawak state election.
Daily chart formed an up bar candle managed to closed above middle Bollinger band level after market opened gap up, and edging upward to closed near the high of the day.
Technical reading suggesting a side way range bound little downside biased market development testing support and resistance level with MACD indicator having positive crossed over.
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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