Tuesday, January 5, 2010

20100105 1257 FKLI Mid Day Hourly Chart Study.


FKLI closed : 1290.5, changed : + 8.5 points, volume : High.
Bollinger band reading : Bullish but way extended.
MACD Histrogram : not much change, sign of buyer drying out.
Support : middle Bollinger band, 1275 level.
Resistant : 1300, 1310 level.
Comment : New year and a new high. Super bullish market with a little overbought condition. The last 2 hourly chart doji candle hints that market may need to take a rest before marching up further. Overall still bullish but cautions.

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