FKLI - Dec05-07 Outlook - Rebound Wave 4(c)

Hi All.

My post-market analysis for today (Dec 04).

Today, FKLI corrected to a low of 1,595, & subsequently rebounded to a high of 1,608.5, completing Wave 4(c)(i)-(ii).
* Ref: my previous post on Dec 03 Outlook.

FKLI - Rebound Wave 4(a)-(b) Completed (Dec 04)

 

 

 

 

 

 

 

 

Congratulations to myself & those who managed to LONG @1,597, or lower this morning !! 

:D

Those who took profit around 1,607-08 should have secure a handsome 10pts day profit, to start off their profitable December month.

Those who are still holding LONG can consider TP at end of Wave 4(c)(iii) or (c)(v).

Those who missed the 1,595-97 bottom can still join the party at Wave 4(c)(iv) low.

Experienced traders might wanna TP @ Wave (c)(iii) & enter again at (c)(iv), benefiting from every gyration of the trend.

>>> 

As of today's close, we are halfway through Wave 4(c)(iii), which I believe shall end around 1,612-1,616. We might go higher if this minuette wave (iii) is extended.

I'll like to see more volume coming in to support the price, an MACD crossover shall do us enough favor to bring in more buyers. We are at the verge of a crossover, let's see if it will be done by tomorrow (Dec 05).

>>> 

Fibo projection from Wave 4(a)-(b) gives an end-target of 1,622.5 for Wave 4(c). Again, this will be subjected to whether the (c)(iii) or (c)(v) wave is extended. 

Fibo retracement on the daily, for the downtrend from 1,677-1590, shows Wave 4 rebound potentially dampened by resistance levels of 1,623.5 (38.2% retracement) | 1,634 (50%) | 1,644.5 (61.8%).

Hence, an extended Wave 4(c) might end at 1,634 or 1,644.5.

>>>

Nevertheless, do exercise caution as we are nearing the end of the current rebound from daily bottom of 1,590, based on my wave count.

Multiple contracts may take half off the table by 1,620-25 to secure profit, while letting the remaining profit runs if price keep climbing.

>>>

I also did an early analysis on potential price movement for Wave 4(c)(iii)-(v), which shall occupy another 2-3 trading days, depending on market enthusiasm. 

I shall update accordingly if anything funny happens along the way.

FKLI - December 05-07 Outlook (2012)

Till then!
Happy Hunting!! :)