Straits Index (M) Sdn Bhd
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Send to a Friend FBM ACE 07/04/2010
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On Thursday, the FBMACE fell 27.34 points or 0.63%, closing at 4345.69 points. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support, while the resistance is at 4431 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic was lower on Thursday, but still above the 70% level, and the short term bullish signal remains intact.

As circled at C, the MACD histogram is still falling, thus the Rounding Top is still in place. The falling of the MACD histogram suggests that the FBMACE is losing strength or the FBMACE is still consolidating.

Since the FBMACE is still consolidating in a sideways manner, some conflicts of signal from technical indicators are normal. As long as the FBMACE is still supported by the 14, 21, 31 EMA, the technical outlook shall remains positive, and there is still a chance for the FBMACE to form a higher-Low.

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