Bollinger band reading : pullback correction upside biased.
MACD Histogram : turned downward, buyer taking profit.
Support : 1640, 1630, 1620, 1610 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed retreat slightly lower with little increased volume changed hand doing abount 4 points premium compare to cash market that also ended marginally lower. Overnight U.S. markets traded little higher and today Asia markets closed mostly lower while European markets currently trading little lower.
News on missed estimates U.S. existing home sales, contracted Philadelphia manufacturing for a third month and concern on China will keep property curbs in place resulted most regional market to trade lower however losses were limited as IBM and Ebay reported beat profit forecast.
Back home, FKLI daily chart adjusted to recommending a pullback correction upside biased market development.
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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