20110524 1753 FKLI EOD Daily Chart Study.

FKLI closed : 1525 changed : +6.5 points, volume : lower.
Bollinger band reading : side way range bound.
MACD Histrogram : falling, buyer reducing position.
Support : 1515, 1500, 1485, 1470  level.
Resistance : 1530, 1540, 1550, 1565 level.
Comment :
FKLI closed recorded gains with lower volume changed hand recovered partial of yesterday losses doing 7 points discount compare to cash market that closed little higher while regional(Asia & European) trading mostly recording little gain and overnight U.S. market continue to fall lower.
Daily chart formed an up bar candle closed little below middle Bollinger band level after market opened little higher, traded range bound and edge up little higher towards the end.
Chart wise, market still likely to trade side way range bound testing support and resistance level with MACD indicator having 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.