Tuesday, May 4, 2010

20100504 1246 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1344, changed : +0.5 point, volume : high.
Bollinger band reading : side way range bound.
MACD Histrogram : turned lower, buyer taking profit.
Support : 1337, 1330, 1325 level.
Resistant : 1345, 1350, 1360 level.
Comment :
Reach new high FKLI but no follow through with profit taking activities push price to closed half point higher in improving volume transacted. Hourly chart wise, market is have a correction after opened gap up signifacantly and is likely to trade side way range bound still upside biased.

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