Thursday, March 11, 2010

20100311 1458 FKLI Mid Day Hourly Chart Study.


FKLI last looked : 1328, changed : -5 points, volume : high.
Bollinger band reading : side way.
MACD Histrogram : getting weaker. seller testing market strength.
Support : 1325, 1315, 1307 level.
Resistant : 1335, 1345, 1355 level.
Comment :
Touched new high FKLI induced buyer to lock in profit with seller interest increased for establishing short position and testing the market strength lead it to give back all the upward surged effort to closed lower with high volume. However hourly chart reading has yet to turned weak with a side way range bound market development except MACD indicator that registering weaker reading.

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