Winchart Technical Analysis -
Daily Market analysis
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As shown on the chart above, the FBM2nd Board Index rebounded 84.51 points to close at 7161.95. Meanwhile, as indicated by A, the Bollinger Bands Width also contracted, suggesting that the FBM2nd Board Index is likely to consolidate. From a different stand point, the contraction of the Bollinger Bands Width also prevented the FBM2nd Board Index from falling. Nevertheless, with the Bollinger Bands Width now contracting, the direction for the FBM2nd Board Index is expected to be unclear.
As circled at B, the WinChart RSI is still situated around the 50% level, which is the mid term neutral region, suggesting the strength for the FBM2nd Board Index is still at neutral.
As circled at C, the Stochastic %K line rebounded and returned to above the 30% level. At the moment, the Stochastic is staying in the neutral region, and therefore, the short term movement for the FBM2nd Board Index is at neutral.
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