20100706 1746 FKLI EOD Daily Chart Study.

FKLI closed : 1311.5 changed : +18 points, volume : higher.
Bollinger band reading : side way range bound.
MACD Histrogram : turned upward, seller take profit.
Support : 1310, 1300, 1290 level.
Resistant : 1318, 1325, 1330 level.
Comment :
Improving volume FKLI recovered boldly to closed higher formed a huge wide range bar covered entirely the previous down bar candle as most regional market traded positively. Daily chart shows that market opened lower and tested lower support level near lower Bollinger band and pullback upward doing correction with the reading still suggesting a 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.