On Tuesday, the FBM2nd Board Index hit another new low with its daily low at 5230.86 points. Since the FBM2nd Board Index managed to close above the 5255.25 level, the 5255.25 level is still the temporary support for the FBM2nd Board Index. However, as indicated by A, the 14, 21, 31 EMA (Exponential Moving Average) is still falling while the dynamic resistance remains intact. Therefore, the FBM2nd Board Index is still in downtrend, and the outlook shall remains bearish biased.

As circled at B, the WinChart RSI continues falling on Tuesday while staying below the 30% level. This shows that the mid term market sentiment for the FBM2nd Board Index is still weak.

As circled at C, the Stochastic %D line continue falling, confirming the %K line short term bearish signal. Therefore, the market movement for the short term is expected to be bearish biased.

Find this analysis useful? Why not share it with others? Click Here to send this to a friend

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