Monday, November 5, 2012

20121105 1720 FKLI EOD Daily Chart Study.

FKLI closed : 1647.5 changed : -1.5 point, volume : higher.
Bollinger band reading : pullback correction little downside biased. 
MACD Histogram : falling lower, seller taking exposure. 
Support :  1645, 1640, 1635, 1627 level.
Resistance : 1651, 1657, 1660, 1670 level.
Comment :
FKLI closed recorded small loss with improving volume transacted doing 6.5 points discount compare to cash market that also closed little weaker. Last Friday U.S. markets fell lower and today Asia markets ended lower while European markets currently having negative development. 
Global market traded weaker on struggling Greece bailout development, China HSBC Services purchasing managers’ index dropped and investors choose to stay sideline ahead of U.S. presidential election and China leader transition meetings. 
Daily chart reading adjusted to suggesting a pullback correction little 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.

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