FKLI closed : 1520.5 changed : -15.5 points, volume : higher.
Bollinger band reading : correction range bound little biased.
MACD Histrogram : getting lower, buyer leaving as seller taking small exposure.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
Severe injury FKLI closed recorded losses for the 3rd day with increasing volume participation doing more than 5 points discount compare to cash market while regional market traded lower as negative sentiment accelerate after IMF cuts U.S. and Japan growth outlook.
Daily chart formed a wide down bar candle closed below middle Bollinger band support level after market opened little lower, traded range bound before slide lower to closed near the low of the day.
Technical reading adjusted to suggesting a correction range bound little upside biased market development testing support and resistant level with MACD indicator almost having a negative cross down.
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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