Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 28/06/2010
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As indicated by A, the FBMACE had its intra-day breaking below the 4200 level again, with its low of 4153.89 points. Still, the FBMACE managed to rebound and close barely above 4200 at 4200.94 points. Despite this, the technical outlook for the FBMACE remains weak.

As indicated by B, the Stochastic is still staying around 50%, thus suggesting that the short term movement of the FBMACE is at neutral. If the Stochastic should break below 30%, it would be a short term bearish biased signal for the FBMACE.

As indicated by C, the MACD histogram signal is still unclear, thus not a reliable indicator to look at for now.

In short, the weaker technical outlook for the FBMACE remains intact, as the FBMACE is still resisted by the 14, 21, 31 EMA and the L1 dynamic resistance.

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