Winchart Technical Analysis -
Daily Market analysis
As shown on the chart above, the 2nd board index continued its consolidation above the 105 suppport level. However, as indicated by A, the 14, 21, 31 EMA remains falling while still serving as the dynamic resistance. Therefore, as long as the 2nd board index is still staying below the falling dynamic resistance, the immediate outlook for the 2nd board index should remains bearish biased.
As circled by B, volume for the 2nd board market remians below the 40-day VMA level. This shows that the 2nd board market was indeed lightly participated, thus susggesting a weaker market sentiment, as it implies a weaker confident from investors. Therefore, provided that the volume is still staying below the 40-day VMA level, the market sentiment is expected to be weak. (Study B)
As of Friday, the Stochastic is still showing a short term bearish signal, and therefore, the market movement for the short term is likely to be bearish biased. If the Stochastic should break above the 30% level, it would be a signal suggesting a neutral market movement, and therefore, the 2nd board index is expected to rebound and consolidate further. (Study C)
Find this analysis useful? Why not share it with others? Click Here to send this to a friend
 1st Online Training In Malaysia |
 |
 |
 |
| View the Online Training | More Market Analysis | Find out more about WinChart | Upcoming Events |
Straits Index (M)
Sdn Bhd
No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828 (5 lines) Fax: (03) 8941
9828
Email: info@straitsindex.com
© Copyright 1997-2007 Straits Index (M) Sdn Bhd All
rights reserved