Winchart Technical Analysis - Daily Market analysis
On Tuesday, the FBM2nd Board Index ended 31.8 points higher to close at 5753.46 points. As indicated by A, the Bollinger Bands Width for the FBM2nd Board Index remains contracting, suggesting that the FBM2nd Board Index is still under consolidation stage. Meanwhile, the T1 and T2 downtrend channel remains intact, and therefore, the outlook for the FBM2nd Board Index should remains bearish biased, with the support still seen at 5577 level.
As circled at B, the Stochastic %K line breaks above the 30% level marginally on Tuesday. If the Stochastic should break out from the 30% level successfully, it would mark an end to the short term bearish signal, and short term market movement for the FBM2nd Board Index would turn to neutral.
As circled at C, the MACD histogram for the FBM2nd Board Index has not formed a rounding bottom yet. Therefore, the falling of the MACD histogram suggests that the MACD bullish signal is still losing strength.
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