Bollinger band reading : correction range bound little downside biased.
MACD Histrogram : turned upward, seller taking profit.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded gain with lower volume changed hand doing half point discount compare to cash market that rebounded higher while regional markets trading mostly higher after U.S. non farm payrolls released a better and expected employment data while Japan market traded after nuclear power plant shutdown.
Daily chart formed an up doji bar candle with longer lower shadow closed nearer to middle Bollinger band level after market opened gap up, traded lower recorded loss and recovered upwards to closed recorded gain near the high of the day.
Chart reading suggesting a correction range bound little downside biased market development potentially testing higher 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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