The swine flu, first reported in North America and now appearing in Australia & Europe, may have become the catalyst for a correction in the local market including FKLI. FKLI ended lower drop 16 points to 966. Total transaction volume 18.5% lower than yesterday with 11,754 lots transacted.
Bollinger band width begin to contract indicate that market is in consolidation mode. Middle BB band become the next support level for FKLI.
MACD begin to form a dead cross with RSI begin to drop from overbought region.
Support @ middle BB band 947 while resistance @ upper BB band 1006.5.
HAPPY TRADING!!
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