Thursday, February 18, 2010

20100218 1806 FCPO EOD Daily Chart Study.

FCPO closed : 2600, changed : -28 points, volume : lower.
Bollinger band reading : bullish still.
MACD Histrogram : reversed lower slightly, buyer taking partial profit.
Support : 2590, 2570, 2521 level.
Resistant : 2620, 2650, 2670 level.
Comment :
Low volume FCPO ended the day at the low within a tight 17 points range market. Technically the daily chart still look bullish biased with further upside potential as Bollinger band width still continue to expand outwards.
When to buy : buy at support/weakness/break out with larger cut loss and profit target.
When to sell : sell at resistant or strength with larger quick cut loss and profit target

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