Thursday, December 17, 2009

20091217 1457 FKLI Mid Day Hourly Chart Study.



At last looked, FKLI trading down 3.5 points at 1263.5 with low volume. Hourly chart wise, price trading near the lower Bollinger band with the band width narrowing = side way downward biased market likely. MACD Histrogram continue to mark lower = selling activities taking place currently. More downside could be seen if Bollinger and starting to turn outward with higher volume or else market is like to stay side way range bound.

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