Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 12/01/2010
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 had its intra-day low reaching 4395.29 points, but it was supported by the 14-day Exponential Moving Average line and the FBMACE rebounded to close at 4452.57 points, losing only 1.8 points.

As shown on the chart above, the 4476 WinChart Automatic Fibonacci Retracement is still the resistance for the FBMACE while the 14, 21, 31 EMA is still serving as the dynamic support. Meanwhile, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating.

As circled at B, the Stochastic continues to fall, but it has not broken below 70%. This means that the short term movement of the FBMACE is still positive.

As circled at C, the MACD histogram is still falling, thus it is forming a Rounding Top. Technically, when the MACD histogram is falling, is suggests that the FBMACE is losing strength.

In short, the FBMACE is consolidating with positive technical outlook, and the consolidation shall carry on until the Bollinger Bands should re-expands.

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