20120130 1745 FKLI EOD Daily Chart Study.

FKLI closed : 1502, changed : -21 points, volume : lower.
Bollinger band reading : side way range bound with possible pullback correction.
MACD Histrogram : falling lower, seller taking exposure.
Support : 1500, 1494, 1485, 1470 level.
Resistance : 1505, 1515, 1530, 1540 level.
Comment :
FKLI closed recorded huge loss with lower volume changed hand doing 11.5 points discount compare to cash market that closed lower. Last Friday U.S. market closed recorded loss and today Asia markets also ended in negative zone while European markets registering loss.
Concern on European summit meeting will fail  to reach agreement on sovereign debt issue, Phllips Electronics 4th quarter larger than estimates loss and slower than forecast U.S. economy growth send global markets to trade lower.
Daily chart technical reading suggesting a side way range bound market development with possible pullback correction.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistance or strength with quick cut loss and profit target.