Bollinger band reading : upside biased.
MACD Histrogram : resume rising, buyer in control still.
Support : 1470, 1458, 1445, 1440 level.
Resistance : 1485, 1500, 1515, 1530 level.
Comment :
FKLI closed recorded huge gains with ultra high volume changed hand doing 2.5 points premium compare to cash market that also closed higher. Overnight U.S. markets closed rebounded higher and today Asia markets traded in positive zone while European markets currently trading higher.
European leaders and bondholders agreed a write down of Greek debt by 50% and boosted the region’s rescue fund to 1 trillion euros ($1.4 trillion) plus speculation that China may soon ease monetary policy lifted global markets higher.
FKLI daily chart formed an up bar candle with upper shadow positioned nearer to upper Bollinger band level after market opened higher and surge upwards wildly within first few minutes and stabilise slowly before rising gruadually to closed higher.
Chart study revised to suggesting an upside biased market development possibly testing higher 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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