Bollinger band reading : side way range bound.
MACD Histrogram : falling lower, seller in control.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded marginal gain with decreasing volume changed hand doing about 3 points discount compare to cash market ahead of tomorrow Sarawak state election while Asia markets ended mostly lower while European markets currently trading mixed. News wise, China reported economy growth of 9.7% and inflation accelerated to 5.4% for the 1st quarter 2011. On the other hand, financial troubled Portugal managed to redeems 4.2 billion Euro bond as scheduled.
Daily chart formed a classic doji bar candle positioned in between middle and lower Bollinger band after market opened little higher, traded within a 11.5 points range bound movement testing high and low before closed little above opening price.
Technical reading still suggesting a side way range bound market development testing support and resistance 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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