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: | |||
 |
 |
||
Despite the re-listing of Sime Darby Bhd., which lead the KLCI to open gap up more than 33 pts, counters declining still outnumbered counters rising. Meanwhile, the FBM2nd Board Index continue to fall on Friday, closing 45.24 pts lower to 6699.01 pts. As indicated by A, the 14, 21, 31 EMA is still falling while still serving as the dynamic resistance for the FBM2nd Board Index. Therefore, this shows that the downtrend of the FBM2nd Board Index is still intact. As long as the FBM2nd Board Index is still resisted by the dynamic resistance, the outlook shall remains bearish biased.
As circled at B, the Stochastic is still situated below the 30% level, which is the short term bearish region. Therefore, the short term bearish signal remains intact, and the short term market movement for the FBM2nd Board Index is still bearish biased.
As indicated by C, the MACD line is still staying below the trigger line, and therefore, suggesting that the bearish MACD signal remains intact. However, if the MACD histogram should start rising and form a rounding bottom, it would be a signal suggesting a short term technical rebound.
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