FKLI closed : 1393, changed : +27 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histrogram : recovering, seller closing position.
Support : 1385, 1375, 1360, 1350 level.
Resistance : 1395, 1400, 1420, 1430 level.
Comment :
FKLI rallied closed recorded huge gains with decreasing volume transacted doing 5.5 points premium compare to cash market that also soared higher. Overnight U.S. market closed lower and today's Asia markets ended mostly higher(with Hang Seng market closed due to typhoon) while European markets currently trading higher.
News wise, German reported lower than economist forecast unemployment while market seems hopeful on German lawmakers vote on Greece rescue plan to pass through resulted most regional market to trade little higher. Back home, FKLI and cash market recorded substantial gains as seller closing position and also probably due to 3rd quater window dressing activities.
Daily chart formed a wide range up bar candle closed nearer to middle Bollinger band level after market opened lower and edge upwards all the way to closed at the higher of the day.
Chart study remained suggesting a pullback correction downside biased market development potentially testing higher resistance level near middle Bollinger band 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 moderate cut loss and profit target.
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