Winchart Technical Analysis -
Daily Market analysis
| Learn Technical Analysis and get your credit hours at the same time. WinChart Technical Analysis Training is Accredited by: | |||
 |
 |
||
As indicated by A, the Bollinger Bands Width continue expanded another 46% with the 2nd board index remaining above the Bollinger Middle Band. Therefore, the 2nd board index advanced another 1.66 points to close at 110.94 point on Monday. Provided that the Bollinger Bands Width shall continue expands with the 2nd board index staying above the Bollinger Middle Band, the bullish tendency for the 2nd board index shall continue. Nevertheless, the Bollinger Middle Band is now serving as the dynamic support for the 2nd board index, and the next resistance for the 2nd board index is still seen at 113.06 Fibonacci Retracement line.
As indicated by B, volume for the 2nd board market increase another 20.9% on Monday, with the volume staying above the 40-day VMA level. This suggests that the 2nd board market was actively participated. In addition, the increase of volume also suggests an increase of fresh capital inflow, and therefore, if the volume should increase with the bullish Bollinger Bands signal, it would help to sustain the bullish sentiment.
As circled at C, the Stochastic %D line breaks above the 70% level, confirming the %K short term bullish signal. Therefore, the Stochastic is now suggesting a short term bullish signal, and provided that the Stochastic could stay above the 70% level, the market movement for the short term is bullish biased.
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