FKLI, 13th April 2015
Today Resistance：1st) 1864 2nd) 1855 3rd) 1847
Today Support: 1st) 1834 2nd) 1829 3rd) 1821
– Daily 50MA stays below 150 MA but forming round bottom.
– Price stays above Daily 200 MA, long-term bullish.
– 60 mins 20 EMA converging with 40 EMA.
Today trading range:
– DJIA up 0.55%, S&P up 0.52%.
– U.S. stocks ended a strong week with a broad rally on Friday as investors lauded GE’s decision to divest most of its high-risk GE Capital business and repurchase up to $50 billion of its shares. All 10 primary S&P 500 sectors ended up on the day but the S&P Industrials index, driven by gains in GE shares, was by far the best performer and rose 1.5 percent. (Reuters)
– FKLI ended Friday near day low but still finished the week higher. Referring to minutes chart, profit-taking is likely to continue if price broke below the trend line support today. Position trader may try to sell at previous session low breakdown with stop loss at above 1850.
– Intraday trading: Buy at 1820, with stop loss at below 1815 while target 1830.
Sell at 1838 breakdown, with stop loss at above 1845 while target 1825.
– 60 mins ATR: 3.14 points
– Daily ATR: 13.54 points
Yesterday Closing Price:
FKLI APR 1838.00 (-6.00) H 1851.00, L 1838.00
FBM KLCI 1844.31 (-5.08) H 1849.78, L 1840.77
Note: Although the above trading ideas are great starting points, they should not be taken as complete trading recommendations. For more concrete trading idea, may contact writer by email to email@example.com.