Wednesday, July 21, 2010

20100721 1433 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1340.5 changed : +3.5 points, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : weakening, buyer profit taking.
Support : 1337, 1330, 1325 level.
Resistant : 1345, 1350, 1360 level.
Comment :
Slow volume gap up FKLI opened near the high but immediately facing resistant as profit taking accelerate pressed price to the low but still managed to register minor gain. Hourly chart wise market seems still drifting between support and resistant level with clear direction with the reading call for a side way range bound market development.

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