FKLI closed 1272 down 1 point in high volume after morning gap up followed by profit taking activities on the afternoon session. Today black bar candle touched the upper Bollinger band and closed lower but stayed above the middle Bollinger band with the Bollinger band width expanding = market still remained in positive tone. MACD Histrogram risen and penetrated into the positive zone marginally = buyer still outnumbers seller after some profit taking activities. Chart wise, the uptrend is still intact but today candles forming a dark cloud cover formation (2nd formation since 16Oct2009) with high volume should not be taken lightly.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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