Monday, August 9, 2010

20100809 1900 FKLI EOD Daily Chart Study.

FKLI closed : 1365.5, changed : +2.5 points, volume : higher.
Bollinger band reading : upside biased.
MACD Histrogram : buyer defending.
Support : 1360, 1350, 1345 level.
Resistant : 1375, 1385, 1395 level.
Comment :
FKLI rose marginally with little improved volume after opened lower but buyer came in to support the market lifted price to recover upward. Daily chart wise, market still trading range bound testing support and resistant level with the reading suggesting a upside biased 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.

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