Tuesday, November 20, 2012

20121120 1742 FKLI EOD Daily Chart Study.

FKLI closed : 1617 changed : +0.5 point, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : recovering, seller taking partial profit.
Support :  1615, 1600, 1595, 1590 level.
Resistance : 1623, 1627, 1635, 1640 level.
Comment :
FKLI closed 1 tick higher with slower volume traded doing 7 points discount compare to cash market that closed marginally higher. Overnight U.S markets closed positively and today Asia markets ended mixed while European markets currently having downward correction.
Uncertainty over Europe development on 15 billion-euro ($19.2 billion) gap in Greece’s public accounts discussion, France credit rating downgrade by Moody's overshadows yessterday better than expected U.S. home sales and U.S. budget discussion optimism development resulted some countries exchanged traded lower.
Daily chart wise, technical study revised to calling a pullback correction 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.

No comments: