Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market analysis
Send to a Friend FBM ACE 15/04/2010
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On Friday, the FBMACE fell another 15.54 points or 0.37%, while the 14, 21, 31 EMA is now serving as the dynamic resistance to the FBMACE. Resistance for the FBMACE is at 4333 WinChart Automatic Fibonacci Retracement while the support is at 4113 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic remains below 30%, in the short term bearish territory. This suggests that the short term movement of the FBMACE is weak, until the Stochastic could successful break above 30%.

As indicated by C, the MACD histogram is still falling, and not yet forming a Rounding Bottom. The falling of the MACD histogram suggests that the FBMACE is still losing strength, thus the weakness is expected to continue until the MACD histogram should form a Rounding Bottom.

In conclusion, the short term movement of the FBMACE is weak, but the FBMACE has not form a downtrend, yet. Not until it forms a lower-high and break below the 4000 mark.

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