20120419 1751 FKLI EOD Daily Chart Study.

FKLI closed : 1593 changed : -1 points, volume : lower.
Bollinger band reading : correction range bound little upside biased.
MACD Histogram : falling lower, buyer seller battling.
Support : 1590, 1580, 1570, 1565 level.
Resistance : 1595, 1600, 1610, 1620 level.
Comment :
FKLI closed little lower with drying volume transaction doing 3.5 points discount compare to cash market that also closed down marginally. Overnight U.S. markets closed lower and today Asia markets ended mixed while European markets registering gain.
Markets sentiment stayed negative after U.S. Intel and IBM slower sales growth earnings report, Spain debts development and some speculation on China cutting bank reserve ratio.
Technical chart reading adjusted to suggesting a correction range bound little upside biased market development testing support level near middle Bollinger band level.
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.