Friday, July 16, 2010

20100716 1738 FKLI EOD Daily Chart Study.

FKLI closed : 1340.5 changed : +3.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : weakening, buyer partial profit taking.
Support : 1337, 1330, 1325 level.
Resistant : 1345, 1350, 1360 level.
Comment :
Thin volume traded FKLI recorded small gain after moving range bound testing support and resistant level while regional markets are having mixed development. Daily chart reading suggesting market to trade side way range bound upside biased.
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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