Friday, August 13, 2010

20100813 1322 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1357, changed : +11 points, volume : low.
Bollinger band reading : side way range bound.
MACD Histrogram : getting higher, buyer defending.
Support : 1350, 1345, 1337 level.
Resistant : 1360, 1375, 1385 level.
Comment :
FKLI opened higher and continue to head north by registering big gains with slower volume traded ahead of the weekend on par with cash market. Hourly chart wise, price traded near upper Bollinger band level with the band width getting wider with potentially testing higher resistant level but the overall picture still call for a side way range bound market reading.

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