Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 18/02/2010
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On Friday, the FBMACE continued its falling, and testing the 14, 21, 31 EMA dynamic support, as indicated by A, and the resistance for the FBMACE remains at 4749.8 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating, and at the same time, preparing for a new movement, and the new movement shall be revealed once the Bollinger Bands should re-expands.

As circled at B, the Stochastic is still falling, but it has not broken below 30%, thus it has not triggered a short term bearish signal for the FBMACE.

As circled at C, the MACD histogram is still falling, and this suggests that the FBMACE is losing strength, and the weakening of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Bottom.

In conclusion, technical indicators are suggesting a weakening sign for the FBMACE, but the FBMACE has not formed any downtrend, this is because it is still supported by the 14, 21, 31 EMA.

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