Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
PDF Send to a Friend FBM ACE 18/06/2010
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 closed at its daily high on Friday, gaining 51.30 points or 1.3%, to close at 3875.73 points. The FBMACE breaks above the 14, 21, 31 EMA by margin, suggesting that it could be breaking away from its downtrend.

Meanwhile, the Bollinger Bands expanded 60%, with the FBMACE above the Bollinger Middle Band, thus the immediate technical outlook is bullish biased. If the Bollinger Bands should continue to expand, with the FBMACE staying above the Bollinger Middle Band, more upside room is expected for the FBMACE. Support for the FBMACE remains at 3622.46 WinChart Automatic Fibonacci Retracement while the resistance is at 3892.81 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic stays above 70%, suggesting that the short term movement of the FBMACE is still on the positive side, thus the bullish biased movement is expected to carry on until the Stochastic should break below 70%.

As circled at C, the ADX is still falling, thus showing no signals on any trend. Technically, the ADX has to rise in tandem with the +DI line, in order to signal a bullish trend.

In conclusion, the FBMACE is showing some signs of breaking out of the downtrend. If it should stay above the 14, 21, 31 EMA, it could even form an uptrend.

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