Thursday, March 18, 2010

20100318 1751 FKLI EOD Daily Chart Study.

FKLI closed : 1297, changed : -10 points, volume : lower.
Bollinger band reading : side way correction.
MACD Histrogram : continue to fall, seller gained control.
Support : 1295, 1290, 1285 level.
Resistant : 1300, 1307, 1315 level.
Comment :
Slam dunk action for FKLI in the second session as seller decided to attack the market without the present of buying interest and succeeded pushed price to closed right at the low of the day. Daily chart wise, negative sentiment increase as shown on today's big body down candle that closed near the middle Bollinger band(also temporary support) level but despite that the reading is still suggesting a side way range bound downward correction market that has yet to turn bearish on purely technical speaking.
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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