Winchart Technical Analysis - Daily Market analysis
On Monday, the FBM2nd Board Index had a daily low at 5736.89 points, but it managed to rebound slightly before closing at 5771.65 points. As indicated by A, the Bollinger Bands Width contracted 6%, suggests that the FBM2nd Board Index is likely to consolidate, as the market direction is still unclear. If the Bollinger Bands Width should re-expand again, it would reveal the new direction of the FBM2nd Board Index. Nevertheless, resistance for the FBM2nd Board Index remains at 5956 level while the support for the FBM2nd Board Index is still at 5536 level.
As circled at B, the Stochastic remains in the short term neutral region, and the market movement for the neutral is still at neutral. The Stochastic must either break above the 70% level or break below the 30% level to shows a short term market direction.
As circled at C, the MACD histogram ticked up slightly, and therefore, suggesting that the FBM2nd Board Index is still likely to consolidate. However, since the MACD line is still below the zero level, the market movement is still bearish biased.
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