Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 04/11/2010
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As shown on the chart above, the FBMACE continued its uptrend after successfully breaking above the 4330 resistance, gaining another 17.83 points or 0.4% on Thursday. Meanwhile, as indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support for the FBMACE uptrend. Next resistance for the FBMACE is seen at 4514.

The Bollinger Bands expanded 14%, with the FBMACE above the Bollinger Middle Band, thus the Bollinger Bands is still showing a bullish signal. If the Bollinger Bands should begin to contract, it would be a signal suggesting a consolidation for the FBMACE.

As circled at B, the Stochastic remains above 70%, in the short term bullish region, suggesting that the short term movement of the FBMACE is still bullish bias.

As circled at C, the MACD histogram is still rising, thus forming a Rounding Bottom. The rising of the MACD histogram suggests that the FBMACE is picking up strength, until the MACD histogram should form a Rounding Top.

In short, the uptrend of the FBMACE remains intact, with the 14, 21, 31 EMA being the dynamic support.

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