Wednesday, March 23, 2011

20110323 1725 FKLI EOD Daily Chart Study.

FKLI closed : 1505.5 changed : +2.5 points,  volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : rising, buyer testing market.
Support : 1500, 1485, 1470, 1458 level.
Resistance : 1515, 1530, 1540, 1550 level.
Comment :
FKLI closed recorded small gains with lower volume participation doing 5 points discount compare to cash market while regional market closed mixed due to lack of catalyst news to influence market movement.
Daily chart formed an up doji bar candle positioned above middle Bollinger band level after market opened gap down little lower, edging up higher slowly but easing lower to closed off the high of the day.
Chart reading suggesting a side way range bound market development testing support and resistance 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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