Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : rising, buyer taking small exposure.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
FKLI closed recorded gain with decreasing volume changed hand doing 5 points discount compare to cash market that closed recorded small gain while regional markets having mixed development and overnight U.S. market closed higher.
Malaysia 4.6% GDP released yesterday showing some sign of economy slowing pace as inflation accelerate plus higher cost of borrowing after interest rate increased.
Daily chart formed the third doji bar candle position nearer to upper Bollinger band level after market opened higher, moved upwards tested upper Bollinger band resistance level and traded range bound to closed near opening price.
Technical reading turned to suggesting a side way range bound little upside 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.
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