Monday, September 20, 2010

20100920 1325 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1466.5, changed : -3.5 points, volume : low.
Bollinger band reading : downside biased.
MACD Histrogram : reversed upward, buyer taking partial profit.
Support : 1458, 1445, 1425 level.
Resistant : 1470, 1500, 1530 level.
Comment :
FKLI corrected downward to eased marginally lower in thin volume traded. Hourly chart shows market opened little lower and traded range bound followed by profit taking activities pressed market tested lower and recover upward to closed the first session off the low. Outlook wise, reading turned into suggesting a downside biased market development.

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