Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
PDF Send to a Friend FBM ACE 17/06/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
As indicated by A, the FBMACE is still testing the 14, 21, 31 Exponential Moving Average, EMA, and gaining only 8.62 points or 0.2%. This shows that the FBMACE is attempting to break away from its downtrend, but not yet successful. Support for the FBMACE is at 3622.46 WinChart Automatic Fibonacci Retracement while the resistance is at 3892.81 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands contracted, suggesting that the FBMACE is still consolidating, while also preparing for a new movement. The consolidation shall only come to an end when the Bollinger Bands re-expands.

As circled at B, the Stochastic remains above 70%, in the short term bullish territory. Therefore, this shows that the short term movement of the FBMACE is still on the positive side. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction.

In conclusion, the FBMACE is still trendless, and fluctuating in a narrow sideways range. There is still some weakness in the overall trend, as the FBMACE is resisted by the 14, 21, 31 EMA.

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 1997-2010 Straits Index (M) Sdn Bhd All rights reserved