Bollinger band reading : little upside biased.
MACD Histrogram : turned upward, buyer staying.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1580 level.
Comment :
FKLI closed recorded gains with higher volume changed hand doing 2 points premium compare to cash market after Petronas Chemical rallied lifted the composite index while regional markets closed mixed.
Daily chart formed an up doji bar candle with longer upper shadow positioned in between middle and upper Bollinger band level after market opened tested lower, rallied higher triggering some short covering once touched upper Bollinger band resistance level and eased lower to closed off the high of the day.
Chart reading turned into suggesting a little upside biased market development testing higher resistance level as price just break above plotted downward trend line else should there is no follow through it could be a false break out signal.
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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