Tuesday, December 8, 2009

20091208 1537 FKLI Mid Day Hourly Chart Study.



FKLI recovered some of yesterday loss up 4 points to closed at 1261.5 with thin volume traded. With price trading below Bollinger band with the band width expanding = downside biased movement likely. MACD Historgram recovered higher = short seller covering up their position as market didn't turn up to be as bad as imaginated. With the mixture reading by both indicators, expecting a side way ranging market waiting to see whether buyer or seller will win the battle. 

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