FKLI - Uptrend intact But remain cautious - 26/9/09

The market on last Friday just short of hitting 1168 target. Everything seem to be alright as the MACD continues to rise, so is the ADX which is confirming the trend is still intact. Place your stop at 1129 to protect profit.


The weekly chart is still bullish as price remains above the upper Bollinger Band and the MACD is still rising. Most significant of all is the weekly ADX has begun to rise which could mean a more powerful move may be coming soon.

But with all these bullishness, I still think you should keep an eye on the exit door as the bearish divergence found at the daily MACD is still intact. Until I see a higher peak as marked out in the daily chart erasing this divergence, would I be senang hati.