Straits Index (M) Sdn Bhd
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Daily Market Analysis
Send to a Friend FBM ACE 31/05/2010
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As indicated by A, the FBMACE Bollinger Bands is still expanding, although only 6%, the FBMACE is still below the Bollinger Middle Band, thus the immediate technical outlook is still on the weaker side. Support for the FBMACE is still at 4235.28 while the resistance is still unchanged at 4333.53 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic rebounded on Tuesday, but it has not successfully broken above 30%, thus not yet breaking away from its short term bearish biased territory. Technically, if the Stochastic could break above 30%, it suggests an end to the short term bearish signal.

As indicated by C, the MACD histogram is still falling, thus not yet forming a Rounding Bottom. Technically, the falling of the MACD histogram suggests that the FBMACE is still losing strength.

Despite the strong gain of the KLCI, the FBMACE was not feeling the momentum at all. This shows that the gains of stocks are rather selective, and not the entire market is gaining strength. Therefore, it is important to know your stock's relationship with the general market.

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