Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 16/05/2010
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 failed to carry on its rising momentum on Monday, losing 29.51 points or 0.7%, and testing the 14, 21, 31 EMA. Resistance for the FBMACE remains unchanged at 4431.77 WinChart Automatic Fibonacci Retracement while the support is at 4235.28 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic fell below 70% by margin on Monday, and this suggests that FBMACE is not able to maintain its short term bullish biased movement, and likely to stay in a consolidation mood.

As circled at C, the MACD histogram is still rising, while the Rounding Bottom is still in sight. This suggests that the FBMACE is still picking up some strength, until the MACD histogram should form a Rounding Top.

In short, with the FBMACE above the 14, 21, 31 EMA, the technical outlook for the FBMACE is still positive, but the FBMACE has not shown any sign of a higher-low formation, nor breaking above its recent resistance, therefore, it is not forming any uptrend 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