Monday, October 19, 2009

20091019 1305 FKLI Hourly Chart Study.



FKLI gap down due to the Dow closed lower last Friday but jumped up quickly to closed at 1262.5. Still stayed above the mid Bollinger Band at the closed of the morning session shows that market upward momentum still retained the same. Bollinger Band width also continue to widen suggest that market can still potentialy go higher. MACD Histrogram stay flat suggest that buyer can seller are still competing to take charge of the market. Long position trader should trail or park stop to protect profit.

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