Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 29/04/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
As indicated by A, the FBMACE tested the 14, 21, 31 EMA on Friday, but it managed to rebound from the 14, 21, 31 EMA, closing 3.63 points higher. Resistance for the FBMACE remains at 4431.77 WinChart Automatic Fibonacci Retracement while the support is at 4333.53 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic remains below 70%, thus this suggests that the short term movement of the FBMACE is not yet returning to bullish biased, until the Stochastic could successfully break above 70%.

As circled at C, the MACD histogram stopped rising, and it could be forming a Rounding Top, though for now it is too soon to judge. Nevertheless, if the MACD histogram should continue to falling, it means that the FBMACE is losing strength.

In conclusion, the FBMACE remains in its consolidation, thus technical indicators are likely to some weakening signals. However, the FBMACE is not forming a downtrend until a visible Lower-High formation. In fact, with the current situation of the FBMACE, the chance of forming a higher-Low is higher.

Find this analysis useful? Why not share it with others? Click Here to send this to a friend


1st Online Training In Malaysia
View the Online Training More Market Analysis Find out more about WinChart Upcoming Events

Straits Index (M) Sdn Bhd
 No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828  (5 lines)   Fax: (03) 8941 9828
Email: info@straitsindex.com
© Copyright 1997-2010 Straits Index (M) Sdn Bhd All rights reserved