Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 25/11/2010
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As indicated by A, the FBMACE retreated and tested the 31-day Exponential Moving Average again on Friday. The FBMACE fell 33.27 points or 0.8% to close at 4132 points. The 14, 21, 31 EMA is still serving as the dynamic support while the resistance remains at 4350 level.

As indicated by B, the Stochastic retreated and fall below 30% by margin, if the Stochastic should returned back to below 30%, it suggests that the short term movement of the FBMACE is still weak.

As indicated by C, the MACD histogram is still falling, thus not showing any Rounding Bottom signal. This suggests that the FBMACE is not yet gaining any strength.

In conclusion, the uptrend of the FBMACE remains intact. However, technical indicators like Stochastic and the MACD histogram is still showing weakness of the FBMACE.

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