Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 16/03/2010
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 remained supported by the 3939 WinChart Automatic Fibonacci Retracement, and rebounded 5.59 points or 0.14% on Wednesday. However, the 14, 21, 31 EMA is still serving as the dynamic resistance to the FBMACE, thus the technical outlook is still on the negative side.

Meanwhile, the Bollinger Bands expanded 6%, with the FBMACE below the Bollinger Middle Band. This suggests that the immediate technical outlook for the FBMACE is weak. But fortunately, with the support of 3939 still intact, the FBMACE is not yet resuming its downtrend.

As circled at B, the Stochastic remains below 30%, in the short term bearish territory. Technically, with the Stochastic below 30%, the short term movement of the FBMACE is expected to weak.

As indicated by C, the MACD Histogram has not formed a Rounding Top, and this suggests that the FBMACE is still not resuming its downtrend.

In short, despite the mixed technical signals, the FBMACE is testing the 3939 support with some weakness. If the FBMACE should break below the 3939 support, more downside movement is likely for the FBMACE.

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