Winchart Technical Analysis - Daily Market analysis
As shown on the chart above, the FBM2nd Board Index ended lower again on Thursday, closing 37 points lower to 5657.96 points. Meanwhile, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBM2nd Board Index, and therefore, as long as the FBM2nd Board Index is still resisted by the falling EMA, the outlook shall remains bearish biased.
On Thursday, the Stochastic remains falling and breaking slightly below the 30% level. If the
Stochastic should remain below the 30% level, it would suggests a short term bearish signal, and the market movement for the short term is expected to be bearish biased.
As circled at C, the MACD histogram continue falling on Thursday, and therefore, suggesting that the FBM2nd Board Index is still weakening. Therefore, the FBM2nd Board Index movement is still negative biased, until the MACD histogram forms a rounding bottom.
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