Friday, November 20, 2009

20091120 1835 FKLI EOD Daily Chart Study.



FKLI ended unchanged to closed at 1271 forming a doji bar candle with high volume transacted. Price still managed to stay above middle Bollinger band with the band width stayed unchanged = market tends to trade side way range bound with possible further correction take place. MACD Histrogram fall further into the negative zone = seller launch counter attack and won in the second half session. Anticipating further correction or side way market with immediate support level at the middle Bollinger band level. 
When to buy : buy at support or weakness with quick cut loss and profit target. 
When to sell : sell at resistant or strength with quick cut loss and profit target.

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