Winchart Technical Analysis -
Daily Market analysis
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As shown on the chart above, the FBM2nd Board Index continue in a sideways movement on Friday, closing 3.32 points lower to 7149.14 points. Meanwhile, as indicated by A, the Bollinger Bands Width continue its contraction suggesting that the FBM2nd Board Index consolidation remains intact. Therefore, the direction for the FBM2nd Board Index shall remains unclear until the Bollinger Bands Width re-expands.
As circled at B, the WinChart RSI is still situated around the 50% level, which is the mid term neutral region. Therefore the WinChart RSI is showing that the market strength for the FBM2nd Board Index is still at neutral.
As circled at C, the Stochastic %D and %K line are slightly declined while still staying marginally above the 30% level. Therefore, the Stochastic is still showing a short term neutral signal. If the Stochastic should fall below the 30% level, it would be a short term bearish signal for FBM2nd Board Index.
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