20100125 1305 FKLI Mid Day Hourly Chart Study.

FCPO closed : 1293, changed : +2.5 points, volume : high.
Bollinger band reading : bearish biased.
MACD Histrogram : recovering slowly.
Support : 1290, 1286 level,
Resistant : 1295, 1300 level.
Comment :
Last Friday DJIA weaker closing leads FKLI to opened gap down near support level but recover slightly toward the close of the first session. FKLI hourly chart still looks weak by trading at below middle Bollinger band level. Expection market to trade side way range bound downside biased.