Thursday, August 5, 2010

20100805 1311 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1365.5, changed : +0.5 point, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : weakening, buyer taking profit.
Support : 1360, 1350, 1345 level.
Resistant : 1375, 1385, 1395 level.
Comment :
Another quiet day on FKLI after market opened higher but immediately face selling pressure pushed price to closed off the high. Hourly chart wise, market is having a side way range bound development as market traded in a tight 5.5 points range market testing support and resistant level searching for new direction.

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