Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 11/10/2010
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 gained 58.57 points or 1.5% on Monday, and the 14, 21, 31 EMA is still serving as the dynamic support for the FBMACE. Meanwhile, the Bollinger Bands expanded 11%, with the FBMACE above the Bollinger Middle Band, thus suggesting that the immediate technical outlook for the FBMACE is still bullish bias. Support for the FBMACE is at 3900 as well as the 14, 21, 31 EMA while the resistance is seen at 4150 level.

As circled at B, the Stochastic touches 100% again, suggesting that the short term movement of the FBMACE is in deed strong, but still, it is also an over-heating signal. Nevertheless, provided that the Stochastic could stay above 70%, the short term movement of the FBMACE is expected to be bullish bias.

As circled at C, the MACD histogram ticked up on Monday, and therefore, it does not form a Rounding Top. When the MACD histogram is rising, it suggests that the FBMACE is picking up strength, thus a positive movement for the FBMACE. Therefore, the improvement of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, the uptrend of the FBMACE is still intact, while the 14, 21, 31 EMA is firmly supporting the FBMACE. Technical outlook remains positive for now.

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