Monday, January 18, 2010

20100118 1304 FKLI Mid Day Hourly Chart Study.



FKLI closed : 1301.5, changed : -0.5 point, volume : low.
Bollinger band reading : sideway upside biased .
MACD Histrogram : recovering.
Support : 1295, 1290 level.
Resistant : 1300, upper Bollinger band, 1309 level.
Comment : FKLI opened weaker as the Dow closed down 100.90 points last Friday but managed to recovered most of the losses to closed the first session nearly unchanged. Hourly chart reading suggesting a side way ranging upside potential market should further supporting volume returned to the market at the afternoon session.

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