Friday, January 8, 2010

20100108 1738 FKLI EOD Daily Chart Study.



FKLI closed : 1297, changed : +4 points, volume : Higher.
Bollinger band reading : still bullish.
MACD Histrogram : nearly unchanged, drawed game for both buyer and seller.
Support : 1290, 1286, 1280 level.
Resistant : 1300, 1309 level.
Comment :
Buyer refused to leave the market after seller came in yesterday pushed FKLI higher to closed way of today's low. Today long body
doji bar candle also shows the battles between buyer and seller trying to take control of the market. Daily chart wise still biased to a
bullish with possible side way range bound market.
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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