Tuesday, November 16, 2010

20101116 1739 FKLI EOD Daily Chart Study.

FKLI closed : 1489, changed : -9.5 points,  volume : higher.
Bollinger band reading : side way range bound.
MACD Histrogram : getting lower, buyer cashing out.
Support : 1485, 1470, 1458 level.
Resistant : 1500, 1530, 1550 level.
Comment :
Buyer continue to cash out their position lead FKLI to closed recorded loss in slightly better volume changed hand doing 14 points discount compare to cash market in tandem with a negative major regional market development especially China Shanghai exchange recorded substantial 3.98% drop. Daily chart formed a doji down bar candle with the low tested support level near lower Bollinger band level as market reading turned into a side way range bound development testing support and resistant level.
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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