Monday, August 23, 2010

20100823 1821 FKLI EOD Daily Chart Study.

FKLI closed : 1401, changed : +11 points, volume : higher.
Bollinger band reading : upside biased.
MACD Histrogram : getting higher, buyer dominated market.
Support : 1395, 1385, 1375 level.
Resistant : 1405, 1425, 1445 level.
Comment :
8th consecutive gains FKLI rallies closed right at the high of the day with better volume transaction traded after market opened and surged higher. Daily chart from the wide range up bar candle and closed at above upper Bollinger band with the outlook still recording upside biased reading with potential pullback correction.
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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