Straits Index (M) Sdn Bhd
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Send to a Friend FBM ACE 25/05/2010
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As indicated by A, the Bollinger Bands is still contracting, and this suggests that the FBMACE is still consolidating while the direction is still unclear. Resistance for the FBMACE remains unchanged at 4431.77 while the support is still at 4235.28 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic is still falling, but it has not broken below 30%, thus not yet giving a short term bearish biased signal for the FBMACE.

As indicated by C, the MACD histogram is still falling, though not significant. It might be forming a Rounding Top. Nevertheless, technically, when the MACD histogram is falling, it suggests that the FBMACE is losing strength.

In conclusion, the FBMACE is still trendless for now, until the re-expansion of the Bollinger Bands. Then, we shall determine the new direction of the FBMACE with the relative position of the FBMACE above or below the Bollinger Middle Band.

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