Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 19/05/2010
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As indicated by A, the FBMACE continued its narrow range sideways movement on Thursday, losing a marginal 1.81 points. Since the FBMACE is moving sideways, the 14, 21, 31 EMA is also losing its gradient, thus making its signal less reliable. Nevertheless, support for the FBMACE remains at 4235.28 while the resistance is unchanged at 4431.77 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic fell slightly, and testing the 70%. If the Stochastic should fall below 70%, it means that the short term movement signal of the FBMACE shall turn from bullish biased to neutral.

As indicated by C, the MACD histogram is still rising, thus not forming a Rounding Top. If the MACD histogram should form a Rounding Top, it means that the FBMACE is losing strength.

In short, the FBMACE remains in a trendless movement while the direction is unclear. Therefore, we could refer to the Bollinger Bands for some clue. Currently, the Bollinger Bands has not expanded significantly, thus suggesting that the FBMACE is still consolidating. If the Bollinger Bands should re-expand significantly, we shall take the Bollinger Middle Band as a guide. If the FBMACE should stay above the Bollinger Middle Band, when the Bollinger Bands expands, it means that the volatility is bullish biased, and otherwise, if the FBMACE should stay below the Bollinger Middle Band.

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