20091221 1306 FKLI Mid Day Hourly Chart Study.

Holiday mood FKLI traded side way within a 3.5 point range market closed the morning session up 2 points at 1262 with thin volume traded. Bollinger band reading shows that FKLI still trading within the negative zone. On the other hand MACD Histrogram recorded some improvement reading suggest that market could still go higher. Due to the conflicting signal by both indicators, anticipating market to trade range bound with immediate resistant at the middle Bollinger band level and with such low volume traded, room for any movement will be limited unless volume transaction increase significantly.