FKLI closed : 1282, changed : +15.5 points, volume : Higher.
Bollinger band reading : bullish but a little overbought.
MACD Histrogram : turned higher, buyer returned and ruled the day.
Support : 1270, middle Bollinger band level.
Resistant : 1286, 1309 level.
Comment :
What a start for the new year 2010! Last minutes buying pushed FKLI to reach the high of the day @ 1284.5 before retracing down and closed the day at 1282. However today candle closed a little away from the upper Bollinger band shows sign of an overbought market thus a correction is likely to take place at the near term. Overall still a bullish daily chart market with possible correction.
When to buy : buy at support/weakness/break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.
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