Meanwhile, the Bollinger Bands expanded 22%, with the FBMACE above the Bollinger Middle Band, thus the bullish signal remains intact. Technically, the bullish biased movement shall carry on until the contraction of the Bollinger Bands.

As circled at B, the Stochastic remains above 70%, thus the short term bullish signal is still in position. If the Stochastic should break below 70%, it would mark an end to the short term bullish signal, and a beginning of a technical correction.

As circled at C, the MACD histogram is still rising, while no Rounding Top is sighted yet. This suggests that the FBMACE is still gaining strength. Meanwhile, the MACD line is gradually rising, and it is about to break above the zero level. If it could break above the zero level, it means that the mid term movement of the FBMACE is improving.

In short, the FBMACE regained its positive territory with the Bollinger Bands bullish signal remains intact. Technically, if it should stay above the 14, 21, 31 EMA, the technical outlook is bullish 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 1997-2010 Straits Index (M) Sdn Bhd All rights reserved