20110103 1810 FKLI EOD Daily Chart Study.

FKLI closed : 1540.5, changed : +13.5 points,  volume : higher.
Bollinger band reading : upside biased with possible pullback.
MACD Histrogram : resume rising, buyer extending dominance.
Support : 1540, 1530, 1515 level.
Resistance : 1550, 1560, 1570 level.
Comment :
FKLI started the new year boldly rallied up 13.5 points(19 points for continuous chart) with better volume changed hand in tandem with Honk Kong, Taiwan and Singapore exhanges.
Daily chart formed a wide range up bar candle closed little above upper Bollinger band resistant level suggesting a possible pullback correction to take place within upside biased reading market.
When to buy : buy at support, weakness or break up with larger cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.