Friday, June 18, 2010

Fkli wrap...+20 this week..bullish..reaching year high ?







Fbm jump 5p in preclosing stage on Tenaga RM0.40 push, about 4p for fbm. This push fkli back to AM ‘s high lvl after stagnating near1315 for most of the day.

Fbm.fkli start strong on internal follow through momentum and tech strength, taking advantage of a mixed external. Regional mostly lower except, +150. SH -2%.

Bullish trend if above 1310 as the current momentum could propel mkt towards the upper red line target and along the 1-mth uptrend line. However, doubtful of a breakup on 1st attempt as fbm is due for pullback to at least, towards the 7 SMA support lvl first.

If fbm > 1312, fkli will stay bullish.



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