Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 11/04/2010
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As indicated by A, the FBMACE fell 84.41 points or 1.94% on Monday, and now testing the 14, 21, 31 EMA dynamic support. Resistance for the FBMACE is still at 4431 WinChart Automatic Fibonacci Retracement while the support is at 4235, other than the 14, 21, 31 EMA.

As indicated by B, the Stochastic fell sharply, breaking below 70%, 50%, and 30% level, entering the short term bearish territory. If the Stochastic should fail to rebound immediately, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram is still falling, and this suggests that the FBMACE is still losing strength, and the weakening signal is expected to continue until the MACD histogram should form a Rounding Bottom.

In conclusion, the FBMACE is having its technical correction, but if the FBMACE should break below the 14, 21, 31 EMA, more downside short term movement is likely. However, it is still too soon to call for any reversal.

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