Fbm produced the strongest performance in 12-days as financial stocks lead the bull charge. Fkli at 9-day high, having to reluctantly keep up with Fbm. Fkli saw massive short covering above 1073.The whole world was reacting to positive outlook in financial sector after a (yes a, a very powerful a) banking analyst upgrades US 2Q profits for financial sector.
The sudden surge made the 2-week old downtrend line obsolete. But it seems overdone, the feeling is too fast.
Above 1080 is a buy, targeting at the recent high, the upper range of its consolidation band. Trading sell-0n-weakness below 1080.
Yet to plot a short-term uptrend line, will do so only if there is a breakout above 1092++.
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