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 shown on the chart above, the FBM2nd Board Index had a daily low reaching 7028.17 points before rebounded to close at 7066.19 points. Therefore, as indicated by A, the falling Bollinger Middle Band shall continue serving as the dynamic resistance for the FBM2nd Board Index. Even though the Bollinger Bands Width is still contracting, as long as the FBM2nd Board Index shall continue resisted by the falling Bollinger Middle Band, the immediate outlook for the FBM2nd Board Index is still negative biased. Nevertheless, the next support for the FBM2nd Board Index is still seen at 7012.33 Fibonacci Retracement line.
As circled at B, the Momentum indicator rebounded slightly on Friday, suggesting that the downside movement is slightly reduced. However, the Momentum must break above the zero level, or else the movement for the FBM2nd Board Index shall remains negative biased.
As circled at C, both the Stochastic %D and %K lines are still staying below the 30% level; therefore, the short term bearish signal shall remains intact, and the market movement for the short term is likely to be bearish 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