FBMSCAP failed to break the Uptrend line and retrace downward to formed a lower high. Adding salt to the wound, today the MACD 4G1R appeared which is not a good news..
FBMSCAP Chart Analysis on 24 September 2012 for Stock Investors
Indicators
1 ) Trendline - below the Uptrendline , attempt to break but failed ( Bearish).
2) Support/Resistance - formed Lower low and lower high ( Bearish)
3) MACD - 4G1R ( Bearish)
4) RSI - Testing 30% (Slightly Bearish) .
Indicators
1 ) Trendline - below the Uptrendline , attempt to break but failed ( Bearish).
2) Support/Resistance - formed Lower low and lower high ( Bearish)
3) MACD - 4G1R ( Bearish)
4) RSI - Testing 30% (Slightly Bearish) .
5) STO - Small Bearish Crossover and retracing towards 20% (Bearish) .
6) Ichimoku - a) Price penetrated in the support cloud (Bearish). Let wait for it go above the support cloud to remain bullish
b) Conversion line retrace broke below the base line (Bearish).
c) Price below the baseline ( Bearish)
7) Candlestick Pattern : Bearish Engulfing ( Bearish) .
6) Ichimoku - a) Price penetrated in the support cloud (Bearish). Let wait for it go above the support cloud to remain bullish
b) Conversion line retrace broke below the base line (Bearish).
c) Price below the baseline ( Bearish)
7) Candlestick Pattern : Bearish Engulfing ( Bearish) .
Conclusion:
Bearish
Resistance- 11735/ 11802 / 11909 / 12124 / 12191 / 12379/
Support - 11628 / 11493 / 11400
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