Wednesday, January 13, 2010

20100113 1314 FKLI Mid Day Hourly Chart Study.



FKLI closed : 1291.5, changed : -1.5 point, volume : high.
Bollinger band reading : bearish.
MACD Histrogram : edge up slightly, buyer refused to leave.
Support : 1290, 1286 level.
Resistant : 1300, 1309 level.
Comment : FKLI continue to trade side way range bound between the support and resistant line waiting for a break out. With today's high traded lower than yesterday, seems like buyer are reluctant to buy at higher price and with that, FKLI could possibly break and stay below the crucial 1290 support level.

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