Thursday, July 8, 2010

20100708 1303 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1317.5 changed : +13 points, volume : moderate.
Bollinger band reading : side way range bound upside biased.
MACD Histrogram : turned downward, seller retreat as buyer counter attack.
Support : 1310, 1300, 1290 level.
Resistant : 1318, 1325, 1330 level.
Comment :
Overnight surged US market plus reacted positive regional markets lead FKLI to ended the first session higher with better volume transacted. Hourly chart wise, market opened higher and traded side way range bound within 7.5 points range with the reading suggesting a side way upside biased market.

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