Tuesday, May 25, 2010

20100525 1327 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1254.5, changed : -17.5 points, volume : high.
Bollinger band reading : downside biased.
MACD Histrogram : reversed upward, seller taking profit.
Support : 1250, 1240, 1232 level.
Resistant : 1260, 1265, 1270 level.
Comment :
Program selling still take place today as major regional market negative development continues lead FKLI to closed lower with sustaining volume changed hand. Hourly chart continue to record downside biased market reading without any sign of correction through the entire morning.

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