Thursday, October 7, 2010

20101007 1739 FKLI EOD Daily Chart Study.

FKLI last looked : 1481.5, changed : -2.5 points, volume : lower.
Bollinger band reading : side way range bound little upside biased.
MACD Histrogram : recovering, buyer defending.
Support : 1470, 1458, 1445 level.
Resistant : 1485, 1500, 1530 level.
Comment :
8 points range market FKLI eased little lower recorded decline in slow volume transaction after opened unchanged and tested lower. Daily chart formed a doji bar candle position near the upper part of a narrowing Bollinger band with the reading (Sorry! I hate to repeat this too! But volume participation is just low. Half life) still calling for a side way range bound upside biased market development.
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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