Thursday, January 14, 2010

20100114 1903 FCPO EOD Daily Chart Study.


FKLI closed : 2530, changed : +20 points, volume : higher.
Bollinger band reading : bearish with possible side way ranging.
MACD Histrogram : dive lower, still in selling mood.
Support : 2500, 2480 level.
Resistant : 2550, middle Bollinger band level.
Comment : FCPO rebounded upward today with extremely high volume with even tricky market condition ended the day with a doji bar candle.Expect market to trade side way range bound downside biased as market also awaits tomorrow soon to be release export data that will provide more leads for market to decide on its direction.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

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