Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 07/06/2010
We are an approved 
Securities Industry Development Corporation (SIDC)-CPE Training Provider.
the training and development arm of the Securities Commission Malaysia (SC). 
On Tuesday, the FBMACE rebounded from the 4200 support, gaining 58.23 points. However, as indicated by A, the FBMACE is now testing the 14, 21, 31 EMA dynamic resistance. If the FBMACE could break above the 14, 21, 31 EMA, it would break away from the current bearish biased movement, and the next resistance is seen at 4333.53 WinChart Automatic Fibonacci Retracement.

As indicated by B, the Stochastic breaks above 30%, leaving the short term bearish territory. If the Stochastic could later break above 70%, it would be a short term bullish signal.

As indicated by C, the MACD histogram is ticked higher, and again, might be forming a Rounding Bottom. Technically, when the MACD histogram is rising, it suggests that the FBMACE is picking up some strength.

In conclusion, due to the rebound above the 4200 support, the FBMACE is avoiding a downtrend formation for now. If the FBMACE could successfully break above the 14, 21, 31 EMA, it would steer away from the current weakening movement, but it will not form an reversal right away.

Find this analysis useful? Why not share it with others? Click Here to send this to a friend


1st Online Training In Malaysia
View the Online Training More Market Analysis Find out more about WinChart Upcoming Events

Straits Index (M) Sdn Bhd
 No. 16, Jalan LP 1A / 5, Lestari Perdana,
43300 Seri Kembangan, Selangor
Hotline: (03) 8941 6828  (5 lines)   Fax: (03) 8941 9828
Email: info@straitsindex.com
© Copyright 1997-2010 Straits Index (M) Sdn Bhd All rights reserved