Straits Index (M) Sdn Bhd
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Send to a Friend FBM ACE 15/12/2010
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As indicated by A, the FBMACE is still resisted by the 14, 21, 31 Exponential Moving Average (EMA) on Wednesday, and losing 42.51 points or 0.99%, and as a result, the 14, 21, 31 EMA is still serving as the dynamic resistance for the FBMACE, while the support is at 4190.

Meanwhile, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating, and the consolidation shall carry on until the Bollinger Bands should re-expand.

As circled at B, the Stochastic fell below 70% by margin on Wednesday. If the Stochastic could not return to above 70% immediately, it means that the short term bullish signal for the FBMACE has come to an end.

As circled at C, although the MACD histogram is still rising, its rising rate is gradually slowing down, and it could be forming a Rounding Top soon. If the MACD histogram should start falling, it means that the FBMACE is losing strength.

In short, since the FBMACE failed to break above the 14, 21, 31 EMA, and now started falling again, there is a risk of resuming its downtrend, with the 14, 21, 31 EMA continue serving as the dynamic resistance.

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