Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
PDF Send to a Friend FBM ACE 01/07/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
As shown on the chart above, the FBMACE stays in a narrow range on Friday, losing 15.74 points or 0.4%. As indicated by A, the FBMACE is still below the 14, 21, 31 EMA, thus the 14, 21 ,31 EMA is still the dynamic resistance for the FBMACE. Support remains at 3622.46 while the resistance is at 3892.81 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded 7%, with the FBMACE still below the Bollinger Middle Band, thus the technical outlook is still negative. If the Bollinger Bands should expand further, more downside volatility is expected for the FBMACE.

As circled at B, the Stochastic failed to break above 30%, thus the short term bearish signal remains intact, suggesting that the short term movement of the FBMACE is still on the negative side.

As circled at C, the MACD histogram has not formed a Rounding Bottom, and it also broke below the zero level, thus it suggests that the FBMACE is still losing strength. The weakening movement of the FBMACE shall carry on until the MACD histogram should form a Rounding Bottom.

In conclusion, the technical outlook remains bearish, with the FBMACE below the Bollinger Middle Band as well as 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