FKLI Technical Analysis - 04 May 2009

Regional markets were up at midday Monday after a survey by CLSA showed Chinese manufacturing rose to 50.1 in April compared to March’s 44.8.

Any figure above 50 shows an expansion in activity. Bloomberg said the CLSA survey was in agreement with a government-backed report on May 1 that showed an expansion.

FKLI are also following the same momentum with 65% higher transaction volume advanced 24 points @ 1012.5. 

Bollinger Band width begin to expand with candle touching upper BB band indicating potentially further bull run in near term. MACD moving away from dead cross but RSI touched overbought zone.

Support @ 961 while resistance @ 1021.

HAPPY TRADING!!