Friday, April 16, 2010

20100416 1804 FKLI Weekly Chart Study.

FKLI closed : 1336, changed : -4 points, volume : higher.
Bollinger band reading : bullish biased.
MACD Histrogram : weaken, buyer reducing exposure.
Support : 1335, 1310, 1300 level.
Resistant : 1350, 1360, 1375 level.
Comment :
The second doji weekly candle bat ended marginally lower in improved volume changed hand. Weekly chart suggesting a side way range bound downward correction market with still upside biased. Strong support is seen at the middle Bollinger band level which is also the upward trend line support level.

No comments: