Wednesday, November 21, 2012

20121121 1724 FKLI EOD Daily Chart Study.

FKLI closed : 1619 changed : +2 point, volume : higher.
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 little firmer with slightly better volume transacted doing about 4 points discount compare to cash market that closed declined marginally. Overnight U.S markets closed mixed and today Asia markets ended mostly higher while European markets currently trading mixed.
News on overnight rise on U.S. home sales to a 4 year high, U.S. budget discussion and European leader failed to reach decision on Greece debt development resulted regional markets to react differently.
FKLI daily chart continue 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.