Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 16/12/2010
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, since being resisted by the 14, 21, 31 EMA on the 14th of December, the FBM KLCI ended 16.60 points or 0.39% on Thursday, to close at 4218.91 points. This suggests that the 14, 21, 31 EMA is still serving as the dynamic resistance, and the support is at 4190 WinChart Automatic Fibonacci Retracement. Meanwhile, the Bollinger Bands has not expanded, and this suggests that the FBMACE is still consolidating.

As circled at B, the Stochastic is still falling after breaking below 70% yesterday. This suggests that the short term bullish signal for the FBMACE has ended. If the Stochastic should break below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by A, the MACD histogram might stop rising, and if it should begin to tick down, it would suggests that the FBMACE is no longer picking up strength. Technically, the MACD histogram has to start falling and form a Rounding Top in order to signal a weakening of the FBMACE.

In conclusion, the FBMACE has a technical rebound and went into a consolidation up to now, but still, it has failed to break above the 14, 21, 31 EMA dynamic resistance, thus the technical outlook for the FBMACE remains on the negative side. If the FBMACE should start falling after being resisted by the 14, 21, 31 EMA, there is a risk of resuming its downtrend.

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