Monday, November 9, 2009

20091109 1834 FCPO EOD Daily Chart Study.

FCPO advanced 20 points higher today to closed at 2266 with low volume changed hand forming a doji bar candle. Closed above middle Bollinger band with the band width expanding = favour an upside biased market. Some late buying activities took place toward the market closing pushed MACD Histrogram just slightly higher. Looking at the chart, FCPO is trading inside the plotted narrowing trend lines and will have a break up or down very soon(but judging from the current price level, break up is likely to happen). 
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : not advisable to initiate short position.

20091109 1755 FKLI EOD Daily Chart Study.

FKLI hit new high today at 1274.5 and closed up 7.5 points at 1273 but with less volume transacted. Without having to elaborate further, all indicators will be having long/bullish signal on FKLI. 
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.  

20091109 1628 DJIA EOD Daily Chart Study.

The Dow ended 17.46 higher to closed at 10023.42. Daily chart wise, all indicators giving a positive view except the volume traded is relatively low. The next immediate target for Dow rest at 10120 resistant level. At last looked, major European market opened trading higher following the tone of major Asia markets that closed higher. However Hang Seng futures closed at a 67 points discount to its cash market.  

20091109 1309 FKLI Mid Day Hourly Chart Study.

FKLI traded 3 points higher to closed at 1268.5 after testing the high at 1271.5 followed by profit taking activities. Trading above middle Bollinger band = market tone is still positive in tandem with key Asia regional market. However, the Bollinger band width started to turned narrowing with MACD Histrogram sliding lower = market are likely to trade side way range bound with possible testing the support level at the middle Bollinger band.

20091109 1255 FCPO Mid Day Hourly Chart Study.

Crude palm oil futures traded 20 points lower to closed the morning session at 2226 with lower volume transacted. Hourly chart price closed below middle Bollinger band with the band width started to turned expanding = market has entered the negative territory. MACD Histrogram getting lower = buyer are not interested to participate heavily in the market at the moment. Seems like FCPO are likely to trade side way or biased to the downside as market awaits for tomorrow export figures before taking any position.

20091109 1119 Genting Daily Chart Study.

Looking at Genting daily chart, a possible classical swing trade can be initiated with tight stop at below the 7.08 level and target at 7.80. But having said that, Bollinger band reading still suggesting a negative outlook on Genting with price trading below the middle band and band width started the expand. MACD Histrogram is rising gentlely with low volume traded

20091109 1103 Salcon Weekly Chart Study.

Salcon weekly chart seems broken the plotted down trend line and still hovering just above it waiting for more buying strength with volume to come in. If the break out is genuine, it is likely to test the 0.655 resistant target level and another more ambitious level rest at 0.80 level. Support stands at 0.55 level. All the indicators on chart shows positive signal toward Salcon.