Tuesday, July 20, 2010

20100720 FKLI EOD Daily Chart Study.

FKLI closed : 1337 changed : -3 points, volume : lower.
Bollinger band reading : side way range bound upside biased.
MACD Histrogram : weakening, buyer still profit taking.
Support : 1337, 1330, 1325 level.
Resistant : 1345, 1350, 1360 level.
Comment :
7.5 points range and closed lower FKLI closed right at support level in low participation volume transacted. Daily chart wise, market tested resistant and closed a support level forming a shooting star candle bar and still registering a side way range bound upside biased market.
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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