Wednesday, January 6, 2010

20100106 1736 FKLI EOD Daily Chart Study.


FKLI closed : 1296.5, changed : +6.5 points, volume : Slightly lower.
Bollinger band reading : bullish but way overbought.
MACD Histrogram : continue higher, buyer market.
Support : 1286, 1280 level.
Resistant : 1300, 1309 level.
Comment :
Ended with a doji bar candle with high volume and way above upper Bollinger band doesn't looks good with high possbility of having a pull back anytime or perhaps the pull back already started. Overall bullish uptrend with downward correction likely.
When to buy : buy at support or weakness 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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