Winchart Technical Analysis -
Daily Market analysis
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As indicated by a, the FBM2nd Board Index fall below the Bollinger Middle Band on Monday, and therefore, it has temporary interrupted the previous uptrend. Meanwhile, with the FBM2nd Board index staying below the Bollinger Middle Band, if the Bollinger Bands Width should expand, it would be a bearish signal for the FBM2nd Board index.
As indicated by B, the WinChart RSI is situated around the 50% level, which is the mid term neutral region. Therefore, the WinChart RSI is suggesting a neutral strength for the FBM2nd Board Index.
As circled at C, the Stochastic %K line fall marginally below the 30% level on Monday, giving an unconfirmed short term bearish signal. If the Stochastic %D line should fall below the 30% level, it would confirm the Stochastic %K signal, and the market movement for the short term would turn from short term bullish biased to short term bearish biased.
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