Winchart Technical Analysis - Daily Market analysis
As indicated by A, the FBM2nd Board Index rebounded 19.84 points to close at 5774.52 points on Thursday. At the moment, the FBM2nd Board Index must retest the 14, 21, 31 EMA as well as the T1 downtrend line. A valid break out above the T1 would mark an end to the downtrend. Nevertheless, support for the FBM2nd Board Index is still seen at 5577 level.
As circled at B, the Stochastic %K also rebounded slightly on Thursday. However, it is still staying below the 30% level, and therefore, the short term bearish signal remains intact. The Stochastic must stay above the 30% level to avoid the short term bearish signal.
As circled at C, the MACD is still falling while the rounding top is still visible. Therefore, this suggests that the FBM2nd Board Index is still weakening. However, since the FBM2nd Board Index rebounded on Thursday, it pays to monitor the MACD histogram, for if the histogram should form a rounding bottom, it would a continuation of the MACD bullish signal.
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