Friday, August 6, 2010

20100806 1907 FKLI EOD Daily Chart Study.

FKLI closed : 1363, changed : -3.5 points, volume : lower.
Bollinger band reading : side way range bound, upside biased.
MACD Histrogram : weakening, lower participation by both buyer and seller but buyer still in control.
Support : 1360, 1350, 1345 level.
Resistant : 1375, 1385, 1395 level.
Comment :
Diminshing volume transaction FKLI eased lower after traded side way range bound for the whole day within a 5.5 points range market. Daily chart technical reading remained unchange by suggesting a side way range bound upside biased market development with lack of sustaining volume as market seems waiting for tonight U.S. non farm payroll report.
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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