Wednesday, November 24, 2010

20101124 0923 FKLI EOD Daily Chart Study. (23 Nov 2010)

FKLI closed : 1485.5, changed : -20 points,  volume : higher.
Bollinger band reading : side way range bound dowside biased.
MACD Histrogram : resumed lower, seller buidling position.
Support : 1485, 1470, 1458 level.
Resistant : 1500, 1530, 1550 level.
Comment :
Sentiment turned negative FKLI recorded massive losses with surged higher volume changed hand after regional market continue to trade negatively especially Hang Seng and Shang Hai stock exchange. Daily chart formed a wide range down bar candle closed lower Bollinger band support level as the reading starting to turned into suggesting a side way range bound downside 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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