FKLI closed : 1567.5 changed : +4.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : turned upward, seller reducing exposure.
Support : 1565, 1550, 1540, 1530 level.
Resistance : 1570, 1580, 1590, 1600 level.
Comment :
FKLI closed recorded gain with dying volume traded doing about 2.5 points premium compare to cash market that closed fraction lower due to poor TNB counter performance while Asia markets closed higher and European markets currently also trading in positive zone with overnight U.S. market closed recorded substantial gains.
More better corporate earnings, easing debt crisis as European Union leaders announced a new aid package for Greece and positive progress in effort by U.S. lawmaker solving budget deficit and debt ceiling issue restores investor's confident to some extend.
FKLI daily chart formed yet another down doji bar candle with lower shadow closed between lower and middle Bollinger band level after market opened higher and traded range bound in positive territory within 5 points range market to closed near opening price.
Technical reading suggesting a side way range bound market development possibly testing higher resistance level near middle Bollinger band. Further positive news of debt issue or stimulus measure from U.S. will reinforce regional markets to move higher.
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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