FKLI closed : 1589 changed : +6.5 points, volume : higher.
Bollinger band reading : upside biased.
MACD Histrogram : resume rising, buyer still in charge.
Support : 1580, 1565, 1550, 1540 level.
Resistance : 1590, 1600, 1610, 1620 level.
Comment :
FKLI closed recorded gain with better volume traded doing 2 points discount compare to cash market that closed higher recorded new historical high while Asia markets ended mixed and European markets currently trading lower with overnight U.S. market closed marginally lower.
Regional news development are negative sided with Temasek Holdings Pte selling stakes in China Construction Bank Corp. and Bank of China Ltd., hours after Moody’s Investors Service said the credit outlook for lenders may sour. Moody's also slashed Portugal's credit rating to junk status, reigniting fears that it may need a second rescue package.
Local front buying interest remained high on index link heavy weight stocks lift benchmark index to all time high.
Daily chart formed an up doji bar candle with upper shadow closed near upper Bollinger band after market opened and traded higher towards second session before easing downward surrendered partial of the intraday gain to closed off the high of the day.
Chart reading resumed calling an upside biased market development after yesterday small pullback testing support and resistance level.
When to buy : buy at support or weakness with moderate cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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