Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 11/05/2010
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 gained 53.43 points or 1.3%, and breaking above the 14, 21, 31 EMA. However, the resistance for the FBMACE remains unchanged at 4333.53 WinChart Automatic Fibonacci Retracement and the support is still at 4235.28 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic breaks above 30%, leaving the short term bearish biased territory. This is a signal suggesting a beginning of a technical rebound, and if the Stochastic could break above 70%, it would be a short term bullish signal for the FBMACE.

As circled at C, the MACD histogram ticked higher, and might be forming a Rounding Bottom. Technically, the rising of the MACD histogram suggests that the FBMACE is picking up some strength.

In conclusion, the FBMACE remains in its consolidation, despite breaking above the 14, 21, 31 EMA. Since the FBMACE did not form a lower-high, it suggests that the FBMACE is not forming a downtrend. Nevertheless, the FBMACE is also not yet forming a Higher-Low, thus there is no sign of an uptrend formation yet.

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