Tuesday, October 13, 2009

20091013 1807 FCPO EOD Daily Chart Study. Accumulation ?

FCPO close marginally higher today to closed at 2157 with heavy volume traded. Although closed with a doji black bar candle, FCPO still managed to stay higher above the mid Bollinger Band giving a young bullish signal. Bollinger Band width also widen mildly suggest that market will be trading upside biased with immediate target at the upper Bollinger Band. MACD Histrogram come into support the bullish sentiment by continue to climb up suggest that buying activity dominate the market compare to selling. 

When/How to Buy : Buy on dip or break up with larger stop and profit targer.
When/How to Sell : Cannot initiate short position unless market break below mid Bollinger Band.

20091013 1737 FKLI EOD Daily Chart Study. Profit Taking.

FKLI ended 3 point lower to closed at 1234.50 adminiting that profit taking activity still in play in the market. However, with low volume traded and price still traded above mid Bollinger Band indicate that market is still strong with a healthy retracement to take rest. This is also confirm by Bollinger Band with expanding but at a slower pace.  MACD Histrogram stay flat showing that seller continue to lock in profit in a rising market. At closed, the Hang Seng Futures is doing 34 points discount compare to it's cash market. Profit taking activity are likely to continue tomorrow.

When to buy : Buy on dip with cut loss at below support level and target at previous high.
When to sell : Cannot initiate short position. Only take profit or cut loss.

20091013 1625 Dow Jone Daily Chart Study. Doji Bar Alert !

The Dow ended 20.86 higher to close @ 9885.80 forming a doji bar candle. It managed to climbed and break through the 9900 phychology level but unfortunately close 15 points below. Daily chart wise, price still hanged near upper Bollinger Band with Bollinger Band widen plus MACD Histrogram continue to rise above positive territory shows bullish sentiment still hanging around the Dow market. Having said that, the doji bar candle that carried the sign of uncertainty alerted me of a possible pull back may happen anytime. At last look the Dow futures is trading down 10 points.

20091013 1622 European Market Is Trading In Negavie Zone Now !

20091013 1250 FKLI Hourly Chart Stayed Side Way.

FKLI opened lower due to dissapointment of the Dow that closed just 20 points higher. The entire morning session traded in 5 points range to close at 1238 with low volume changed hand although regional market traded firmer. Price is trading in between mid and lower Bollinger Band with tide Bollinger Band width signaling a side way range bound market. MACD histrogram stayed flat in the negative zone indicates that mild profit taking activity still in play.

20091013 1235 FCPO Hourly Chart Study. Holding Up Still.

FCPO gap 25 points higher to opened at 2172 but trading stay side way in the range of only 13 points. At closed of the morning session, price still trading above mid Bollinger Band = Bullish. Bollinger Band width continue to widen suggest that market movement will be trading upside biased. But MACD histrogram stay flat suggesting that buyers are not eager to push up the price yet. Perhaps market are still in accumulating phase before shooting up higher. Buyer out number seller in 6 to 4 ratio.

20091013 1018 Soy Oil Futures Hitted High @ 36.79 yesterday !

After hitting new high at 36.79, soy oil is taking some rest and retraced down at 36.12 due to over extended toward above upper Bollinger Band. All indicators still giving bullish signals to soy oil futures. FCPO is like to gap up today.

20091013 0935 HiapTek Looks Strong But Just Way Too Fast.

Weekly chart wise, HiapTek looks really strong with all indicators giving bullish signals. One thing that trade have to keep in mind is that price of HiapTek is trading way above the upper Bollinger Band signal that price will be strugulling to move higher in the immediate term. Overall HiapTek still holding up nicely.