Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 13/08/2010
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On Friday, the FBMACE lost 9.07 points or 0.2%, to close at 3813.26 points. As indicated by A, the FBMACE is still staying at the 14, 21, 31 EMA (Exponential Moving Average), thus the direction is still unclear. Support for the FBMACE remains at 3622 while the resistance is at 3891 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands contracted 4%, suggesting that the FBMACE is still consolidating sideways. The Bollinger Bands has to re-expand in order to suggests a direction for the FBMACE.

As circled at B, the Stochastic stays around 50%, suggesting that the short term movement of the FBMACE is trendless. If the Stochastic should break below 30%, it would be a signal suggesting a short term bearish movement.

As indicated by C, the MACD histogram is still falling, thus no Rounding Bottom is sighted yet. This suggests that the FBMACE is still losing strength.

In short, we still have to wait until the Bollinger Bands to expand for the FBMACE to break away from this trendless movement. If the Bollinger Bands should expand with the FBMACE above the Bollinger Middle Band, it would be a upside biased signal; if the Bollinger Bands should expand with the FBMACE below the Bollinger Middle Band, it would be a bearish one.

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