Friday, October 19, 2012

20121019 1728 FKLI EOD Daily Chart Study.

FKLI closed : 1662 changed : -5.5 points, volume : lower.
Bollinger band reading : correction range bound upside biased. 
MACD Histogram : turned downward, buyer seller battling. 
Support : 1660, 1657, 1651, 1645 level.
Resistance : 1670, 1680, 1690, 1700 level.
Comment :
FKLI closed recorded loss with quiet volume traded doing 4 points discount compare to cash market that edge up marginally. Overnight U.S. markets closed declined little lower and today Asia markets ended mixed while European markets currently trading lower.
Slower China foreign direct investment data and overnight lower than estimated Google and Microsoft earnings reports resulted world markets to trade mostly negative ahead of the weekend while awaits further news from Europe region leaders meeting. 
FKLI daily chart study adjusted to calling a correction range bound upside biased market development as Bollinger band started to turned narrowing. 
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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