Friday, February 5, 2010

20100205 1758 FKLI Weekly Chart Study.

FKLI closed : 1243.5, changed : -15.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : continue lower, seller confident increase.
Support : 1232, 1200 level.
Resistant : middle Bollinger band, 1250, 1285 level.
Comment :
Another wide body down bar weekly candle that tested and dive through and closed below the 1250 support level after test attempted at the middle Bollinger band resistant level. Weekly chart wise, FKLI is likely to trade side way range bound with possible testing further downside support level.

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