Meanwhile, the Bollinger Bands expanded 29%, with the FBMACE above the Bollinger Middle Band. This shows a positive signal for the FBMACE, as the immediate technical outlook for the FBMACE is on the upper side.

As circled at B, the Stochastic remains above 70%, in the short term bullish territory. Technically, as long as the Stochastic could stay above 70%, the short term movement of the FBMACE is likely to be positive.

As circled at C, the MACD histogram is still rising, and not yet forming a Rounding Top. The rising of the MACD histogram suggests that the FBMACE is still picking up strength, and the improvement of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, the break out above the 14, 21, 31 EMA is the first important move for the FBMACE to regain its positive territory. If later the FBMACE could form a Higher-low, it would be a first characteristic of an uptrend formation.

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