Wednesday, November 28, 2012

20121128 1732 FKLI EOD Daily Chart Study.

FKLI closed : 1609 changed : +11 points, volume : lower.
Bollinger band reading : pullback correction downside biased.
MACD Histogram : turned upward, seller taking profit.
Support :  1600, 1595, 1590, 1580 level.
Resistance : 1610, 1615, 1623, 1627 level.
Comment :
FKLI having technical rebound closed recorded gains with reduced volune transacted doing 2 points premium compare to cash market that also rebounded higher. Overnight U.S markets traded lower and today Asia markets ended mostly recorded loss and European markets currently registering loss.
Continue concern on unsettle U.S. congress budget negotiation (fiscal cliff) overshadows positive Europe Greece debt agreement send world market traded lower. Back home, technical rebound finally take place after moving down for 4 weeks with profit taking and rollover activities kicks in.
Daily chart reading revised to suggesting a pullback correction down side 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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