Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 24/05/2010
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As indicated by A, the Bollinger Bands is still contracting (9%), and this suggests that the FBMACE is still in a consolidating stage. Resistance for the FBMACE is still at 4431.77 WinChart Automatic Fibonacci Retracement while the support is still at 4235.28 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic rebounded slightly on Tuesday, thus not yet entering the short term bearish biased territory. If the Stochastic could break above 70%, it would be a short term bullish biased signal for the FBMACE.

As circle at C, the MACD histogram is still falling, although insignificant, and no Rounding Top is sighted yet. Nevertheless, the falling of the MACD histogram suggests that the FBMACE is losing strength.

In conclusion, the direction for the FBMACE remains unclear for now. Therefore, we shall monitor the Bollinger Bands. If the Bollinger Bands should re-expands with the FBMACE above the Bollinger Middle Band, it would be a bullish biased signal for the FBMACE.

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