Tuesday, November 3, 2009

20091103 1718 FKLI EOD Daily Chart Study.



FKLI ended the day negatively today to closed 1237.5 down 8 points forming a topping tail black bar candle. Continue traded below the mid Bollinger band within a narrowing Bollinger band = the side way market still in play. MACD Histrogram tested lower = seller out number buyer in the market today. Should the Bollinger band width turned expanding out, then we should see more selling pressure come into the market.
When to buy : buy at support with quick cut loss and profit target.
When to sell : sell on strength or break down with larger stop and profit target.

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