Winchart Technical Analysis - Daily Market analysis
On Friday, the FBM2nd Board Index ended at its daily high again, to close at 6528.10 points, up 118.19 points. As indicated by A, the FBM2nd Board Index is now testing the 6587 WinChart Automatic Fibonacci Retracement resistance line as well as the dynamic resistance line, which is the 14, 21, 31 EMA. If the FBM2nd Board Index should break out from these resistance levels, it is likely to resume its previous upward movement.
As circled at B, the Stochastic %K line breaks above the 30% level, which suggests an end to the short term bearish signal. However, this signal is yet to be confirmed. If the Stochastic %D line should also break above the 30% level, it would confirm the %K line signal, and the market movement for the short term would turn from bearish biased to neutral.
As shown on the C line, the MACD histogram ticked higher on Friday, and therefore, there is a chance for the MACD histogram to form a rounding bottom. If the MACD histogram should form a rounding bottom, with the MACD histogram continue rising, it would be a signal suggesting an improving movement for the FBM2nd Board Index.
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