Bollinger band reading : side way range bound.
MACD Histrogram : falling, seller taking small exposure.
Support : 1440, 1435, 1425, 1420 level.
Resistance : 1445, 1458, 1470, 1480 level.
Comment :
FKLI closed recorded substantial loss with better volume transacted doing about 10.5 points discount compare to cash market that closed lower. Overnight U.S. markets ended lower recorded loss for the 2nd day and today Asia markets closed lower while European markets continue to trade weaker.
Rising concern over China's property sector bad loans, growing contagion risk on European debt problem and latest Germany disagreement with France on how to contain the Europe debt crisis resulted global markets to trade negatively. However, U.S. side reported improve jobless claims and analyst forecasts faster economy growth.
Daily chart formed a down bar candle closed at lower Bollinger band after market opened lower and gradually swing downward toward the end to closed near the low of the day.
Chart study revised to suggesting a side way range bound market development testing support and resistance level with possible rebound.
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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