Straits Index (M) Sdn Bhd
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Send to a Friend FBM ACE 23/05/2010
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As indicated by A, the Bollinger Bands is still contracting, contracted 3%, and this suggests that the FBMACE is still consolidating. On Monday, the FBMACE fell 51.89 points or 1.19%, with its resistance staying at 4431.77 WinChart Automatic Fibonacci Retracement while the support at 4235.28 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic fell below 70%, and this suggests that the short term bullish biased signal has now ended. If the Stochastic should later break below 30%, it would be a short term bearish biased signal for the FBMACE.

As indicated by C, the MACD histogram stopped rising, and might be forming a Rounding Top. If the MACD histogram should form a Rounding Top and start to fall, it means that the FBMACE is losing strength.

In conclusion, the FBMACE remains in its consolidating mood despite break below the Bollinger Middle Band and the 14, 21, 31 EMA. The FBMACE has not formed a downtrend, not until it has formed a Lower-High, or breaking below its important support.

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