Tuesday, October 9, 2012

20121009 1733 FKLI EOD Daily Chart Study.

FKLI closed : 1660.5 changed : -3 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded small loss with better volume participation doing about 3 points discount compare to cash market that closed little higher. Overnight U.S. market closed little lower and today Asia markets ended mixed while European markets currently trading little lower.
World markets traded mostly lower except China and Hong Kong as IMF cuts global growth outlook, continue concern over Europe debt crisis development as EU finance ministers meet, investors expecting lower U.S. corporate earnings and hope on further stimulus measures from China.
Daily daily chart wise, FKLI is still having pullback correction within an upside 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: