FKLI closed : 1433, changed : -1.5 point, volume : higher.
Bollinger band reading : downside biased.
MACD Histrogram : falling, seller taking position.
Support : 1425, 1405, 1395, 1385 level.
Resistance : 1445, 1458, 1470, 1485 level.
Comment :
FKLI closed recorded small loss with better volume exchanged doing 4.5 points discount compare to cash market that ended lower. Overnight U.S. market climbed higher and Asia markets ended mixed while European markets currently trading higher.
European markets moving higher on bargain hunting as stock valuation is cheap relative to other asset classes while Asia market ended mixed as Chinese Premier Wen signaled developed nations should cut deficits and create jobs rather than relying on China to bail out the world economy and the quote “Countries must first put their own houses in order”.
Daily chart formed a down doji bar candle closed near lower Bollinger band level after market higher, edge upwards tested little above resistance level and fall lower into negative zone before recovered upward partially to closed off the low of the day.
chart reading remained suggesting 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 resistance or strength with quick cut loss and profit target.
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