Meanwhile, the Bollinger Bands expanded 86%, with the FBMACE above the Bollinger Middle Band. Therefore, the Bollinger Bands is suggesting a bullish signal for the FBMACE, and the immediate technical outlook is on the positive side.

As circled at B, the Stochastic remains above 70%, in the short term bullish territory. This suggests that the short term movement of the FBMACE is still strong, and the positive short term movement is expected to carry on until the Stochastic should break below 70%.

As circled at C, the MACD histogram is still rising, and therefore, it is still showing a Rounding Bottom signal. The rising of the MACD histogram suggests that the FBMACE is still gaining strength, and the improvement is expected to continue until the MACD histogram should form a Rounding Top.

In conclusion, the technical outlook for the FBMACE is getting better as the FBMACE is above the 14, 21, 31 EMA dynamic. Provided that the FBMACE could remain supported by the rising 14, 21, 31 EMA, the FBMACE could form an uptrend.

Find this analysis useful? Why not share it with others? Click Here to send this to a friend

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