Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 28/01/2010
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 an intra-day high reaching 4293.21 points, but as investors were still taking profit, it pushed the FBMACE to give up most of its gains, to close at 4252.80 points, gaining only 12.33 points or 0.29%. The 14, 21, 31 EMA is still serving as the dynamic resistance while the support is at 4190 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands contracted 8% on Friday, and this suggests that the FBMACE is indeed consolidating, and the consolidation is expected to continue until the Bollinger Bands should re-expand.

As circled at B, the Stochastic rebounded slightly, but unfortunately, it has not broken above 30%, thus the short term bearish signal remains intact. If the Stochastic could break above 30%, it would be away from the short term bearish territory, and mark a beginning of a technical rebound for the FBMACE.

As circled at C, the MACD histogram is rising while forming a Rounding Bottom. The rising of the MACD histogram suggests that the FBMACE is picking up strength, as the short term movement of the FBMACE is gradually improving.

Despite technical indicator like MACD histogram is showing some slightly improvement of the FBMACE, the technical outlook remains weak, as the FBMACE is still resisted by the 14, 21, 31 EMA.

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