Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 17/06/2010
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As indicated by A, the FBMACE rebounded 20.55 points or 0.5% on Friday, and resting the 14, 21, 31 EMA and the L1line dynamic resistance again, with the support unchanged at 4200.

As indicated by B, the Stochastic rebounded too, but not yet breaking above 70%. if the Stochastic should break above 70%, it would be a short term bullish signal for the FBMACE, and if the Stochastic could remain above 70%, the market movement for the short term is likely to be positive.

As indicated by C, the MACD histogram is still rising, thus not yet forming a Rounding Top. The rising of the MACD histogram suggests that the FBMACE is still picking up some strength.

In short, despite the rebound on Friday, the immediate technical outlook for the FBMACE remains weak, unless the FBMACE could successfully break above the 14, 21, 31 EMA as well as the L1 line.

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