20110315 1731 FKLI EOD Daily Chart Study.

FKLI closed : 1479 changed : -12 points,  volume : higher.
Bollinger band reading : downside biased with possible pullback.
MACD Histrogram : falling lower, seller increase exposure
Support : 1470, 1458, 1445, 1425 level.
Resistance : 1485, 1500, 1515, 1530 level.
Comment :
26.5 points range FKLI closed recorded loss with higher volume transacted for the 4th day doing 5 points discount compare to cash market while regional markets ended substantially lower(particularly Japan down 10.55%, Taiwan down 3.35% and Hong Kong down 2.86%) after news on Japan earthquake damage getting worst with nuclear power plant 4th reactor on fire plus exposure on radioactive into larger area.
Daily chart formed the third doji bar candle with long upper and lower shadows positioned right at lower Bollinger band level after market opened gap down, tested higher and plunged lower before recover upward to salvage partial of the losses to closed off the low of the day.
Chart reading wise, market is likely to trade downside biased with possible pullback correction should recovery on Japan nuclear power plant take place else market could still test lower support levels as MACD indicator is having a negative cross down today. 
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.