Friday, April 23, 2010

20100423 1823 FCPO EOD Daily Chart Study.

FCPO closed : 2540, changed : +50 points, volume : higher.
Bollinger band reading : side way range bound.
MACD Histrogram : recovering, seller cover position ahead of weekend.
Support : 2521, 2500, 2470 level.
Resistant : 2550, 2570, 2600 level.
Comment :
FCPO price surge substantially to closed right at the high of the day and week with improve volume changed hand as seller cover their position ahead of the weekend. Daily chart reading switch from a downside biased market to a yet to confirm direction side way range bound market.
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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