“Give up” mood was evident in fkli after 4pm today following a 3-day of premium play.
Most mkts quiet, fkli just gave back its premium and at the same time, triggered some technical selling. Fkli took a 4 points dive in the preclosing stage to finish at day’s low on sell stop under 1300.
Fbm spent the whole day near 1300 in quiet trade, lucky to be above 1300 thanks to Astro +19% jump (privatization talk) or about +2 point for fbmfkli.
Externals were mixed today. HS big swing, plus minus 100 point and finished near -0.5% range, Europe off to a softer start, -0.2%, DJ futs -8.
Selling is likely build up tomorrow if fbm breaks 1300, on route to test 30 SMA. Immediate resistance is lowered to 1310, easier reach for bulls to turn the tide. In the meantime, bears are taking charge.
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