Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 17/12/2010
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, the FBM KLCI rebounded 24.90 points or 0.59%. However, it is still resisted by the 14, 21, 31 EMA dynamic resistance, thus its technical outlook remains on the lower side. Support for the FBMACE remains at 4190 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands has not expanded yet, and this suggests that the FBMACE is basically still consolidating. If the Bollinger Bands should re-expand with the FBMACE above the Bollinger Middle Band, it would help the FBMACE to break away from its bearish biased movement.

As circled at B, the Stochastic rebounded but it has not broken above 70%. If the Stochastic could break above 70%, it would be a short term bullish signal for the FBMACE.

As indicated by C, the MACD histogram is still rising, thus not forming a Rounding Top yet. Provided that the MACD histogram is still rising, it means that the FBMACE could be picking up strength again.

In conclusion, the FBMACE remains in its consolidation. Since it is now above the Bollinger Middle Band, and if the Bollinger Bands should re-expand with the FBMACE above the Bollinger Middle Band, it would have a good chance in breaking above the 14, 21, 31 EMA dynamic resistance too.

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