Thursday, April 1, 2010

20100401 1251 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1337, changed : +20 points, volume : high.
Bollinger band reading : bullish biased.
MACD Histrogram : rising, buyer turned aggressive.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1360 level.
Comment :
Run away gap FKLI opened and climb higher in supportive volume changed change hand. Without having to elaborate further, I think whatever indicators or technical tool will give you a bullish upside biased market that facing immediate previous high resistant level at 1337. Having said that, market could have a pullback anytime as price upward movement is way over extended.

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