FKLI closed : 1530 changed : +6.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : recovering, seller lock in profit.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
FKLI closed recorded gains with decreasing volume transacted doing 1 point discount compare to cash market that closed at the high while regional markets traded in positive territory. Sentiment turned positive after U.S. improving housing and payroll data plus some major corporates earnings exceed market forecast.
Daily chart formed an up bar doji bar candle positioned nearer to middle Bollinger band after market opened little higher, moved little downwards and inched up slowly tested resitance near middle Bollinger band level and retreated downwards slightly to closed off the high of the day.
Chart reading still call for 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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