Thursday, October 11, 2012

20121011 1749 FKLI EOD Daily Chart Study.

FKLI closed : 1657 changed : -4 point, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : weakening, buyer taking profit.
Support : 1657, 1651, 1645, 1640 level.
Resistance : 1660, 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded loss with little improved volume changed hand doing 1.5 point premium compare to cash market that closed lower. Overnight U.S. markets closed weaker and today Asia markets ended mostly lower while European markets currently trading little higher.
Negative sentiment still dominate Asia markets today after news on Spain credit rating downgrade by Standard & Poor and slower Japan machinery orders data.
FKLI daily chart study remained suggesting a pullback correction 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.

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