Straits Index (M) Sdn Bhd
WinChart Technical Analysis
Daily Market Analysis
Send to a Friend FBM ACE 02/12/2010
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On Friday, the FBMACE gained only 4.68 points or 0.11%, to close at 4158.98 points. As indicated by A, the FBMACE is still supported by the 14, 21, 31 EMA dynamic support, while the resistance remains unchanged at 4350 followed by 4500.

As indicated by B, the Stochastic only rose slightly, thus not yet breaking above 70%. Currently, the Stochastic is showing a neutral signal for it is situated at 50% level. This suggests that the short term movement of the FBMACE is at a consolidation.

As indicated by C, the -DI line of the DMI is still above the +DI line. Therefore, the DMI signal is still showing some negative signal. If the -DI line should rise with the ADX, it would be a bearish signal for the FBMACE.

In conclusion, the FBMACE is consolidating above the 14, 21, 31 EMA, while the uptrend is still intact. Currently, the technical outlook for the FBMACE is still positive.

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