Fbm.fkli finished on strong note on SIME gains, capping a strong week on good earnings report. DJ weaker tone failed to dampen mkt mood with Europe/regional mostly mixed for the week.Technically, fbm.fkli brushed off Wed’s –ve signal, on DJ losses amid weak housing data but came back strongly the next day with buying above 1400, driven first by fbm’s strength. Not much of pullack and price remains above short term support line since a run from 1340.
This established 1400 as a support rather than resistance, setting the next course higher. This could translate to 1400-1450 range next week if mkt steady above1400 for start.
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