Wednesday, July 7, 2010

20100707 1740 FKLI EOD Daily Chart Study.

FKLI closed : 1304.5 changed : -7 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : turned downward, seller defending.
Support : 1300, 1290, 1285 level.
Resistant : 1310, 1318, 1325 level.
Comment :
Seller still holding on position FKLI closed lower in reduced volume transaction despite cash market having positive closed doing 6 points discount. Daily chart shows that market having side way range bound market reading testing support and resistant level.
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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