Tuesday, June 15, 2010

20100615 1804 FKLI EOD Daily Chart Study.

FKLI closed : 1296 changed : -8.5 points, volume : higher.
Bollinger band reading : side way range bound.
MACD Histrogram : reversed lower, seller wanted a rematch.
Support : 1290, 1280, 1274 level.
Resistant : 1300, 1310, 1318 level
Comment :
Wild day improved volume FKLI traded in 32.5 points range after the morning illiquid market stop triggered to the low of the day and stabilized to closed off the low down 8.5 points forming a long lower shadow doji bar candle. Daily chart reading still suggesting a side way range bound market likely to development in the near term.
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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