Winchart Technical Analysis - Daily Market analysis
On Tuesday, the Bollinger Bands Width of the FBM2nd Board Index contracted 21%, suggesting that the FBM2nd Board Index consolidation continues. The contraction of the Bollinger Bands Width also suggesting an unclear market direction. If the Bollinger Bands Width should re-expand with the FBM2nd Board Index staying below the Bollinger Middle Band, it would be a bearish signal for the FBM2nd Board Index.
As circled at B, the Stochastic is still showing a short term neutral signal. Therefore, the market movement for the short term is at neutral. If the Stochastic should fall below the 30% level, it would suggest a short term bearish signal.
As indicated by the arrow C, the MACD histogram is still showing a clear rounding top signal. Therefore, the rounding top suggests a weakness for the FBM2nd Board Index, and as long as the MACD histogram is still falling, the FBM2nd Board Index movement shall remains weak.
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