Monday, May 17, 2010

20100517 1255 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1325.5, changed : -12.5 points, volume : high.
Bollinger band reading : downside biased.
MACD Histrogram : dive deeper, seller seized control.
Support : 1325, 1321, 1318, 1310 level.
Resistant : 1330, 1337, 1345 level.
Comment :
Interest rate hike plus negative regional market development continue to huant FKLI to fall lower in supportive volume transacted. Hourly chart reading shows a negative downside biased market with possible temporary pullback correction to take in the near term.

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