Thursday, July 29, 2010

20100729 1854 FKLI EOD Daily Chart Study.

FKLI closed : 1362.5, changed : +6.5 points, volume : lower.
Bollinger band reading : side way range bound, upside biased.
MACD Histrogram : reverse upward, buyer still in charge.
Support : 1360, 1350, 1345 level.
Resistant : 1375, 1385, 1395 level.
Comment :
Despite thin volume trading and 1 day ahead of expiry, FKLI still managed to closed the day at higher ground doing 4 points premium compare to cash market. Daily chart wise, market outlook suggesting a side way range bound upside biased development.
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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