Monday, January 4, 2010

20100104 1835 FCPO EOD Daily Chart Study.


FCPO closed : 2680, changed : + 17 points, volume : Lower.
Bollinger band reading : Bullish with a little overbought.
MACD Histrogram : continue higher, buyer still in charge.
Support : 2650, 2630 level.
Resistant : 2700, 2730 level.
Comment :
Daily chart wise, today's doji candle closed 15 points away from the upper Bollinger band level indicate price may be over extended with possible pull back in the near term but having said that, market could potentially surge higher should more buying interest return to the market.
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.

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