Straits Index (M) Sdn Bhd
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Send to a Friend FBM ACE 27/05/2010
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As indicated by A, the Bollinger Bands of the FBMACE is still contracting, and this suggests that the FBMACE is not yet breaking away from its sideways consolidation. Resistance and support remains unchanged at 4431.77 and 4235.28 respectively.

As indicated by B, the Stochastic rebounded slightly on Friday, thus not breaking below 30%. If the Stochastic should break below 30%, it would be a short term bearish signal for the FBMACE.

As indicated by C, the MACD histogram is still falling, and this suggests that the FBMACE is losing its strength, and the weakening shall continue until the MACD histogram should form a Rounding Bottom.

In conclusion, technical indicators are suggesting some weakening signal, but the FBMACE is still consolidating in a trendless manner. If the Bollinger Bands should re-expand with the FBMACE below the Bollinger Middle Band, it would be a negative signal for the FBMACE.

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