20120726 1732 FKLI EOD Daily Chart Study.

FKLI closed : 1622 changed : -17 points, volume : higher.
Bollinger band reading : pullback correction upside biased.
MACD Histogram : falling lower, buyer taking profit.
Support : 1623, 1615, 1600, 1595 level.
Resistance : 1630, 1640, 1650, 1660 level.
Comment :
FKLI closed recorded substantial loss with increasing volume transacted doing about 2 points discount compare to cash market that also closed lower. Overnight U.S. markets rebounded and today Asia markets traded mixed while European markets currently trading lower.
Overnight news on declined U.S. home sales, weaker U.K. GDP resulted today Global market to trade mixed with some speculation play on further stimulus measure to be implemented after sign of slower growth and investores awaits some key corporates earnings report.
Despite the big slumps today, FKLI daily chart reading remained unchanged calling a pullback correction upside biased market development with rollover activities kicked start.
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.