Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : recovering, seller taking profit.
Support : 1515, 1500, 1485, 1470 level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded small gain with decreasing volume transacted doing about 3 points discount compare to cash market that also recorded gain while regional markets trading mostly higher after China reported a more than estimated $11.4 billion trade surplus for the month of April.
Daily chart formed an up doji bar candle with longer lower shadow closed near middle Bollinger band level after market opened 2 ticks higher, traded lower tested little below support level and edge up higher before ease down slightly to closed near the high of the day.
Technical reading suggesting a side way range bound little downside biased 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.
No comments:
Post a Comment