Monday, May 21, 2012

20120521 1748 FKLI EOD Daily Chart Study.

FKLI closed : 1537 changed : +10.5 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : turned upward, seller taking profit.
Support : 1530, 1515, 1500, 1485 level.
Resistance : 1540, 1550, 1565, 1570 level.
Comment :
FKLI closed rebounded higher with shrinking volume exchanged doing about 2 points discount compare to cash market that also closed recorded gain. Last Friday U.S. markets closed lower for the 6th continuous day and today Asia markets ended mostly higher while European markets currently registering small gain.
Most regional markets having recovery after China Premier Wen pledge to boots economy and investors awaits G-8 leaders meeting.
Technical chart reading still suggesting a pullback correction downside biased market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.

No comments: