Winchart Technical Analysis - Daily Market analysis
As indicated by A, the Bollinger Bands Width expanded 3% on Monday. Basically, a 3% expansion of the Bollinger Bands Width is not significant. However, since the FBM2nd Board Index is currently situated below the Bollinger Middle Band, and therefore, if the Bollinger Bands Width should further expand, there shall be more down side risk for the FBM2nd Board Index.
As circled at B, the Stochastic is still showing a short term neutral signal, and the market movement for the short term is expected to be at neutral. If the Stochastic should fall below the 30% level, it would suggests a short term bearish signal.
As indicated by the C arrow, the MACD histogram remains falling while still showing a rounding top signal. Therefore, the FBM2nd Board Index is likely to stay weak until the MACD could tick up and found a rounding bottom.
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