Bollinger band reading : correction range bound little upside biased.
MACD Histrogram : falling lower, buyer seller seems battling.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
Technical rebound FKLI closed recorded gains with ultra high volume changed hand doing almost par with cash market while regional market ended higher.
Daily chart formed an up bar candle with lower shadow closed above middle Bollinger band level after market opened 1 tick lower, moved 6 points higher and plunged down all the way triggering most long position stop loss order before recovered all losses and surged higher to closed near the higher of the day recorded big gains.
Technical chart reading suggesting a correction range bound little upside biased market development testing support and resistance level with MACD indicator having 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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