Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 18/05/2010
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As indicated by A, the FBMACE was fluctuated in a narrow range, closing 7.13 points or 0.2% higher. The FBMACE is still staying around 4333.53 WinChart Automatic Fibonacci Retracement and the 14, 21, 31 EMA, with the resistance unchanged at 4431.77 WinChart Automatic Fibonacci Retracement, while the support stays also unchanged at 4235.28 WinChart Automatic Fibonacci Retracement. Meanwhile, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating.

As indicated by B, the Stochastic rebounded and broke above 70%, re-entering the short term bullish territory. If the Stochastic could stay above 70%, it suggests that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram is still rising, thus showing a Rounding Bottom. The rising of the MACD histogram suggests that the FBMACE is picking up strength, and the improvement is expected to carry on until the MACD histogram should form a Rounding Top.

In short, despite positive signals from technical indicators, the FBMACE remains trendless. Again, the FBMACE has not shown any higher-Low, nor breaking new high, thus not yet forming an uptrend.

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