Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 06/04/2010
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As indicated by A, the FBMACE is still consolidating, gaining 29.14 points or 0.67% on Wednesday. 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 Wednesday, while still above 70%, in the short term bullish territory. This suggests that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram is still falling, thus showing the Rounding Top. This suggests that the FBMACE is still in consolidation, and the consolidation is expected to continue until the MACD histogram should form a Rounding Bottom.

In short, technical outlook for the FBMACE remain positive, and if the FBMACE could remain supported by the 14, 21, 31 EMA, it has a good chance to form an uptrend.

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