Friday, March 5, 2010

20100305 1819 FCPO EOD Daily Chart Study.

FCPO closed : 2670, changed : -4 points, volume : slightly lower.
Bollinger band reading : upside biased.
MACD Histrogram : getting higher, buyer still in.
Support : 2670, 2650, 2620 level.
Resistant : 2700, 2730, 2750 level.
Comment :
Profit taking activities lead FCPO to retreated lower in the second hald session ended the day marginnaly lower. Technically, the daily chart reading still suggesting a upside biased market with possible side way range bound correction as price touched the upper Bollinger band for the second time and today candle ended with a long upper shadow doji bar.
When to buy : buy at support/weakness/break up 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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