Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 23/12/2010
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 FBMACE was trading at a narrow range on Thursday, losing 6.16 points or 0.14%. Since the FBMACE is moving in a sideways manner, the 14, 21, 31 EMA is not effective anymore. Nevertheless, resistance for the FBMACE remains at 4318 WinChart Automatic Fibonacci Retracement while the support is at 4190.

Meanwhile, the Bollinger Bands contracted further, and this has confirmed the consolidation of the FBMACE. The consolidation is expected to carry on until the re-expansion of the Bollinger Bands.

As circled at B, the Stochastic is still falling, breaking below the 50% by margin. Currently, the Stochastic is showing a neutral signal. If the Stochastic should break below 30%, it would be a short term bearish signal for the FBMACE.

AS circled at C, the MACD histogram started falling, thus it is likely to form a Rounding Top. Technically, the falling of the MACD histogram suggests that the FBMACE is losing strength.

In conclusion, the FBMACE is still consolidating. If later the Bollinger Bands should re-expand with the FBMACE above the Bollinger Middle Band, it would be a positive signal for the FBMACE; otherwise, if the Bollinger Bands should re-expand with the FBMACE below the Bollinger Middle Band, it would be a bearish bias signal.

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