Winchart Technical Analysis - Daily Market analysis
As indicated by A, the FBM2nd Board Index breaks below the 5934 support level, marking yet another new low at 5577.58 points before closing at 5654.58 points. Therefore, the 5934 points is now the immediate resistance for the FBM2nd Board Index. Meanwhile, the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBM2nd Board Index. As long as the FBM2nd Board Index is resisted by the 14, 21, 31 EMA, the outlook for the FBM2nd Board Index shall remain bearish biased. Since the FBM2nd Board Index is making a new low, there is no reliable support at the moment.
As circled at B, the stochastic %K returned to below the 30% level on Monday, and therefore, the short term bearish signal remains intact. As long as the Stochastic is still staying below the 30% level, the market movement for the short term is at bearish biased.
As circled at C, the MACD histogram rounding bottom was violated on Monday as the FBM2nd Board Index dipped more than 7%. Therefore, this has ende the short term consolidation, and provided that the MACD histogram is still falling, it suggests that the FBM2nd Board Index is still turning weak.
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