Thursday, December 3, 2009

20091203 1736 FKLI EOD Daily Chart Study.

A ping pong daily chart for FKLI that registered a lower closed at 1267.5 down 5.5 points after market closed higher yesterday. Today black candle penetrated the middle Bollinger with the band width turned even tighter = market continue to trade side way range bound. MACD Histrogram stayed nearly flat = no significant action by both buyer and seller. Overall market should still be trading within the upper and lower Bollinger band until the band width turned outward with price trading near either the upper or lower band for its future direction.
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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