Friday, August 6, 2010

20100806 1908 FKLI Weekly Chart Study.

Weekly Close: 1363, High: 1374.5, Low: 1360.5, Range: 14 points.
FKLI closed : 1363.5 changed : +6.5 points, volume : lower.
Bollinger band reading : upside biased.
MACD Histrogram : rising, buyer still in control.
Support : 1360, 1350, 1335 level.
Resistant : 1375, 1385, 1395 level.
Comment :
Recorded higher week on week gain FKLI traded in tide range market half volume transaction market formed another doji bar candle. Weekly chart wise, market seems not really made up its mind to move higher after hesitated to closed a the high after tested resistant level near higher Bollinger band level. As for the outlook, the reading still suggesting a upside biased potential market development but with volume lacking.

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