Winchart Technical Analysis - Daily Market analysis
As indicated by A, the Bollinger Bands Width for FBM2nd Board Index expanded 7% on Wednesday. With the FBM2nd Board Index staying below the Bollinger Middle Band, the expansion of the Bollinger Bands Width is suggesting a bearish movement signal. If the Bollinger Bands Width should continue expanding with the FBM2nd Board Index below the Bollinger Middle Band, the bearish movement is expected to continue. Nevertheless, support for the FBM2nd Board Index is still at 5577 level.
As circled at B, the Stochastic is still falling on Wednesday. At the moment, the %D line has not broken below the 30% level. If the Stochastic %D should break below the 30% level, it would confirm the short term bearish signal, and the market movement for the short would be bearish biased.
As indicated by C, the MACD histogram continue falling on Wednesday while still showing a rounding top signal. The rounding top suggests that the FBM2nd Board Index is weakening. However, with the MACD line still staying above the trigger line, the MACD has not triggered any bearish signal yet.
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