Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 05/04/2010
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As indicated by A, the FBMACE remains in its consolidating stage, while staying around the 4333 WinChart Automatic Fibonacci Retracement. Meanwhile, the 14, 21, 31 EMA is still serving as the dynamic support to the FBMACE, while the resistance is at 4431 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic rebounded on Tuesday, and therefore, the Stochastic is still staying above 70%, while the short term bullish signal for the FBMACE remains intact.

As circled at C, the MACD histogram is still falling, and this suggests that the FBMACE is still losing strength, or staying in its consolidation. The consolidation or the weakening movement is expected to continue, until the MACD histogram should form a Rounding Bottom.

In conclusion, the FBMACE has been consolidating in a sideways manner for a 3rd day, and it is still supported by the 14, 21, 31 EMA dynamic support. Therefore, the technical outlook is still on the positive side. If the FBMACE could form a higher-low above the dynamic support, it would be an early sign of a possible uptrend formation.

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