Monday, July 19, 2010

20100719 1308 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1334 changed : -6.5 points, volume : low.
Bollinger band reading : side way down side biased.
MACD Histrogram : getting lower, buyer profit taking with seller testing market.
Support : 1330, 1325, 1318 level.
Resistant : 1337, 1345, 1350 level.
Comment :
FKLI traded lower in thin trading volume after negative closed in U.S. market. Hourly chart wise, market opened lower and buyer defending their position putting effort to move market upward trying to test middle Bollinger band level but seem not getting desirable result with the reading suggesting a downside biased market development.

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