Tuesday, December 29, 2009

20091229 1819 FCPO EOD Daily Chart Study.



FCPO closed : 2590, changed : - 2 points, volume : Lower.
Bollinger band reading : Still bullish but not promising.
MACD Histrogram : continue higher, buyer has yet to leave.
Support : 2555, middle Bollinger band level.
Resistant : 2630 level.
Comment :
Profit taking activities push FCPO price lower after open gap up around the resistant level. Daily chart still look positive but profit taking may continue towards tomorrow and stay side way range bound. 

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.

2 comments:

Kendra Bing said...

You uploaded wrong chart

MW Chong said...

Hey Thank For Telling Me. I've corrected the error. =)