Winchart Technical Analysis - Daily Market analysis
As indicated by A, the Bollinger Bands width expanded 35% on Friday, with the FBM2nd Board Index staying above the Bollinger Middle Band. Therefore, the Bollinger Bands Width suggested a bullish signal for the FBM2nd Board Index. If the Bollinger Bands Width should remain expanding with the FBM2nd Board Index staying above the Bollinger Middle Band, there are more upside room for the FBM2nd Board Index.
As circled at B, the Stochastic is still staying above the 70% level, which is the short term bullish region. Therefore, provided that the Stochastic is still above the 70% level, the market movement for the short term is expected to be bullish biased.
As circled at C, the MACD histogram continue ticking higher, suggesting a continue improving movement for the FBM2nd Board Index. Therefore, the positive movement for the FBM2nd Board Index is expected to continue until the MACD histogram starts to tick down and forms a rounding top.
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