Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 25/01/2010
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 rebounded on Tuesday, with its intra-day high reaching 4299.06, but as investors were still taking profit, the FBMACE only managed to regain 8.51 points or 0.2%. The 14, 21, 31 EMA is still serving as the dynamic resistant while the immediate support is at 4190 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded only 6%, and this seems like an obvious reduction if compared to the expansion rate of few days ago. Therefore, if the Bollinger Bands should begin to contract, it suggests that the FBMACE would consolidate.

As circled at B, the Stochastic rebounded slightly on Tuesday, but remained below 30%, in the short term bearish territory. This suggests that the short term movement of the FBMACE is still weak, until the Stochastic could break above 30% successfully.

As circled at C, the MACD histogram is still falling despite the small rebound of the FBMACE. Therefore, the MACD histogram has not formed a Rounding Bottom, and the falling of the MACD histogram suggests that the FBMACE is still losing strength.

In conclusion, the FBMACE is temporary supported by the 4190 WinChart Automatic Fibonacci Retracement, and it could be consolidating if the Bollinger Bands should begin to contract. However, provided that the FBMACE is still resisted by the 14, 21, 31 EMA dynamic resistant, the technical outlook shall remain weak.

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