Wednesday, October 17, 2012

20121017 1745 FKLI EOD Daily Chart Study.

FKLI closed : 1665.5 changed : +12 points, volume : higher.
Bollinger band reading : upside biased. 
MACD Histogram : turned upward, buyer seller battling. 
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded gains with better volume particiaptiond doing about 5 points premium compare to cash market that closed higher. Overnight U.S. markets closed firmer and today Asia markets traded on higher ground while European markets currently registering small gain. 
Sentiment seems getting positive after U.S. reported better than estimates industrial production data and news on Spain credit rating stayed unchanged by Moody's Investor.  
Daily chart analysis revised to calling 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: