Friday, April 16, 2010

20100416 1445 FKLI Mid Day Hourly Chart Study.


FKLI last looked : 1334, changed : -7 points, volume : low.
Bollinger band reading : downside biased.
MACD Histrogram : getting lower, seller still in.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
Another gap up selldown day in FKLI that traded lower in lesser volume as seller seems gathered confident to stay put. Hourly chart reading suggesting a further downside potential market with possible pullback if price traded way outside the lower Bollinger band level.

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