Tuesday, August 28, 2012

20120828 1751 FKLI EOD Daily Chart Study.

FKLI closed : 1647.5 changed : -2 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : falling lower, buyer seller battling.
Support : 1640, 1630, 1623, 1615 level.
Resistance : 1650, 1660, 1670, 1680 level.
Comment :
FKLI closed recorded small loss with rising volume changed hand on par with FBMKLCI30 index that closed little weaker. Overnight U.S. markets closed sligthly lower and today Asia markets ended mostly recorded small for the 2nd day while European markets currently trading little lower.
Most regional market traded lower after Japan lower its economy growth assessment while investors await if there is still any possible stimulus measure announce from U.S. Federal Reserve.
Still, FKLI daily chart reading suggesting a pullback correction upside biased market development with increasing rollover activities.
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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