Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer taking small exposure.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
FKLI closed recorded loss with lower volume transacted surrendered partial of last Friday gains doing 2 points discount compare to cash market that closed at the low recorded loss while regional markets trading negatively and U.S. last Friday closed lower as U.S. dept limit deadline concern raised investor worry lead market to trade in negatively.
Daily chart formed a down doji bar candle with longer upper shadow closed between middle and upper Bollinger band level after market opened lower, traded higher and fall downwards to closed near the low of the day.
Technical chart reading suggesting a side way range bound market development testing support and resistance level with MACD indicator having positive crossed up.
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