Winchart Technical Analysis - Daily Market analysis
On Friday, the Bollinger Bands Width of the FBM2nd Board Index contracted another 28%, suggesting that the FBM2nd Board Index is still consolidating. Meanwhile, as indicated by A, the FBM2nd Board Index is still supported by the Bollinger Middle Band. Therefore, if the Bollinger Bands Width should expand again with the FBM2nd Board Index staying above the Bollinger Middle Band, it would be another bullish signal for the FBM2nd Board Index, and the FBM2nd Board Index is set to retest the 5956 level.
As circled at B, the Stochastic is still staying around the 50% level, which is the short term neutral region. Therefore, the Stochastic is suggesting a short term neutral movement. If the Stochastic should break above the 70% level, it would be another short term bullish signal for the FBM2nd Board Index.
As circled at C, the MACD histogram is still falling, and therefore, the rounding top is still visible, suggesting that the FBM2nd Board Index is still weakening. Nevertheless, if the MACD histogram should tick up and form a rounding bottom, it would be a signal suggesting a continuation of the MACD Bullish signal, for the MACD line is still staying above the trigger line.
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