Monday, October 12, 2009

20091012 1745 FKLI EOD Daily Chart Study. Take a rest.



FKLI climb to a new high at 1243 today follow by profit taking to closed 0.5 point lower at 1237.5. Daily chart still looks strong by staying near upper Bollinger Band.  Bollinger band width continue to widen but price already hit the upper band shows that only limited room available for the market to edge up higher unless Bollinger band width widen on a faster pace. MACD Histrogram risen but not much indicate that seller and buyer ratio are more or less even.

When to Buy : Buy at support pr pull back and park cut loss below support.
When to Sell : Cannot initiate short position, only take profit.

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