Friday, January 15, 2010

20100115 2222 FKLI EOD Daily Chart Study.


FKLI closed : 1302, changed : +5 points, volume : lower.
Bollinger band reading : bullish.
MACD Histrogram : unchanged, seller backing off.
Support : 1300, 1290, 1286 level.
Resistant : 1309, upper Bollinger band level.
Comment : Finally a break up above crucial 1300 resistant level took place today after trying for more than a week times. Daily chart continue to favour a uptrend market and should MACD Histrogram turned upward in the coming week, further upside potential is likely. However, today's doji bar candle shows some doubt for market to move higher comfortably. 
When to buy : buy at support/weakness/breakout 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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