Winchart Technical Analysis - Daily Market analysis
As indicated by A, the Bollinger Bands Width for the FBM2nd Board Index remains contracting on Monday, suggesting that the FBM2nd Board Index is still in its consolidation stage. However, since the FBM2nd Board Index is still staying inside the T1 and T2 downtrend channel, the outlook for the FBM2nd Board Index is still bearish biased, with a support seen at 5577 level.
As circled at B, the Stochastic stays below the 30% level, which is a short term bearish region. Therefore, the Stochastic is now suggesting a short term bearish market movement. The short term bearish movement is expected to continue until the Stochastic could break out above the 30% level successfully.
As indicated by C, the MACD histogram still has not formed a rounding bottom. Therefore, the falling of the MACD histogram suggests that the FBM2nd Board Index is still weakening. Meanwhile, if the MACD line should start falling and break below the trigger line, it would trigger a bearish 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