Friday, November 23, 2012

20121123 1740 FKLI EOD Daily Chart Study.

FKLI closed : 1608.5 changed : -5 points, volume : lower.
Bollinger band reading : downside biased.
MACD Histogram : recovering, seller taking profit.
Support :  1600, 1595, 1590, 1580 level.
Resistance : 1610, 1615, 1623, 1627 level.
Comment :
FKLI closed recorded loss again with quiet volume transacted doing about 6 points discount compare to cash market that closed lower despite regional market traded higher. Overnight U.S markets paused for holiday and today Asia markets ended in positive territory while European markets currently trading little lower.
Daily chart reading revised to suggesting a 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: