Tuesday, December 15, 2009

20091215 1745 FKLI EOD Daily Chart Study.



Last minuted push up resulted the FKLI to closed unchanged at 1265.5 with low volume traded. Today's 5.5 points range candle ended right at the middle Bollinger band with the band width turn narrower = upward correction has hit the first level of resistant here. MACD Histrogram recovered for the 2nd day = with today's low volume, buying activities present but not substantially sufficient yet. Market is likely to trade side way range bound with possible testing the second resistant level at the plotted upper downtrend line. 
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.

No comments: