Wednesday, July 28, 2010

20100728 1718 FKLI EOD Daily Chart Study.

FKLI closed : 1356, changed : +0.5 point, volume : lower.
Bollinger band reading : range bound, upside biased.
MACD Histrogram : weakening, buyer defending position.
Support : 1350, 1345, 1337 level.
Resistant : 1360, 1375, 1385 level.
Comment :
Mostly rollover activities FKLI ended the day 1 tick higher with slightly lower volume changed hand. Today daily chart formed another doji bar candle as market traded side way range bound testing support and resistant level without designate direction. Outlook remained unchanged with 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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