Wednesday, January 2, 2013

20130102 1720 FKLI EOD Daily Chart Study.

FKLI closed : 1684 changed : -0.5 point, volume : higher.
Bollinger band reading : correction range bound upside biased.
MACD Histogram : weakening, buyer taking profit.
Support :  1680, 1670, 1660, 1650 level.
Resistance : 1690, 1700, 1710, 1720 level.
Comment :
FKLI closed recorded marginal loss with better volume transacted doing about 6 points premium compare to cash market that fell 14 points lower. Today Asia markets advanced higher while European markets currently having positive development.
Daily chart reading suggesting a correction range bound upside 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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