Thursday, April 28, 2011

20110428 1722 FKLI EOD Daily Chart Study.

FKLI closed : 1531 changed : +4.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : recovering, buyer and seller rolling over to next month.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1580 level.
Comment :
FKLI closed recorded gain with lower volume changed hand doing 4 points discount compare to cash market that also recorded gain while regional markets traded mixed still accessing the impact to the market when U.S. Federal Reserve stop QE2 program by end of Jun 2011 confirmed by its chairman Ben Benanke.
Daily chart formed a doji bar candle closed still below middle Bollinger band level after market opened higher and traded within 6 points range bound market to closed near opening price.
Chart reading remained 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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