FBMSCAP Chart Analysis on 10 September 2012

Look at the Small Cap counter. Many are active but going down and the FBMSCAP sadly has broken below another new support level and close at 11761

 Indicators
1 ) Trendline - Broke below the Uptrendline ( Bearish)
2)  Support/Resistance - Formed lower high (Bearish) and  formed Lower Low ( Bearish)
3) MACD - Bearish and let waits for 4R1G to bullish reversal
4) RSI - At oversold and went further downward from 30% (BEARISH)
5) STO - Bearish Crossover ( 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). Waiting for rebound if the Conversion line break above the base line
                       c) Price below the baseline ( Bearish)


Conclusion:
Bearish
We need to wait for another day to check whether it can close above 11857 because now it is testing the support line.  

Resistance- 11857 ( Trendline Support on 10 Sept) / 11909/ 12124/12191/11802
Support -   11735/ 11628 / 11493