As indicated by A, the FBMACE tested the 14-day Exponential Moving Average on Monday, but remain resisted by the 14, 21, 31 EMA dynamic resistance. The FBMACE fell 18.75 points or 0.49%. Support for the FBMACE is at 3640 points.

As indicated by B, the Stochastic fell a little on Monday, while staying in the neutral region. This suggests that the short term movement of the FBMACE is at neutral for now. If the Stochastic should later fall below 30% again, it would be entering a short term bearish territory.

As indicated by C, despite the MACD histogram is still rising, the MACD line stays below zero level, and this suggests that the mid to long term movement of the FBMACE is still weak.

In conclusion, the downtrend of the FBMACE is still intact, with the technical outlook staying negative. Meanwhile, the FBMACE is still forming lower-highs, which is the characteristic of a weakening trend.

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

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