Bollinger band reading : pullback correction upside biased.
MACD Histrogram : turned downward, buyer profit taking.
Support : 1540, 1530, 1515, 1500 level.
Resistance : 1550, 1565, 1580, 1590 level.
Comment :
FKLI closed recorded losses for the first time after 5 days of climbs with lower volume transacted doing 5 points discount to cash market while regional market traded mostly lower with China, Hong Kong and Taiwan closed for holiday.
Daily chart formed a down doji bar candle with longer lower shadow closed below upper Bollinger band level after market opened gap down little lower, sliding downward before recover partial of the loss to closed off the low of the day.
Technical reading suggesting a pullback correction upside biased market development with the pullback correction possible testing lower support level
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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