Sorry. Unable to upload latest FKLI chart at the moment.
FKLI closed : 1497, changed : +17.5 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histrogram : recovering, seller reducing exposure.
Support : 1485, 1470, 1458, 1445 level.
Resistance : 1500, 1515, 1530, 1540 level.
Comment :
FKLI closed recorded huge gains with shrinking volume changed hand doing about 2.5 points discount compare to cash market that closed significantly higher. Last Friday U.S. market closed firmer and Asia markets ended mostly higher while European markets currently trading in positive territory.
U.S. retail sales rise by the most in 4 months and better than economist estimates Japan 2nd quarter GDP lead regional markets to trade in recovery pace after recent falls.
Daily chart formed a wide range up bar candle positioned in between lower and middle Bollinger band level after market opened higher, traded range bound and climb upwards slowly breaking resistance level and closed near the high of the day.
Chart reading wise, FKLI is still having a pullback correction and is likely to trade range bound within a 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