FKLI closed : 1475, changed : -9 points, volume : lower.
Bollinger band reading : pullback correction upside biased.
MACD Histrogram : weakening, buyer taking profit.
Support : 1470, 1458, 1445, 1440 level.
Resistance : 1477, 1485, 1491, 1500 level.
Comment :
FKLI closed recorded loss with shrinking down volume participation doing 14.5 points huge discount compare to cash market that closed higher. Overnight U.S. markets closed recorded gains and today Asia markets traded mostly higher while European markets currently trading lower after opened in positive zone.
Latest news on China reported slower inflation, IMF director Lagarde warned of the risk of a "lost decade" for global economy and political change in Greece and Italy resulted regional market to trade differently.
Daily chart formed a down bar candle with small upper shadow closed below upper Bollinger band level after market opened higher, edge few ticks upwards and slide downward lower slowly followed by last 15 minutes sell down to closed near the low of the day.
Technical study remained suggesting a pullback correction upside biased market development tested support and resistance.
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.
1 comment:
Hi, do you think that tomorrow FKLI will drop? I'm thinking to do short but I need your advice which point is the most higher tomorrow so that I can do short? Thanks
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