FBMSCAP Chart Analysis on 7 September 2012

This is everybody's favourite chart because many investor love to invest on penny stocks which many of the counters are in the TOP 10 Active Counters

 Indicators
1 ) Trendline - Above the uptrend line (Bullish) - Requires to maintain 11857 to remain bullish
2)  Support/Resistance - Formed lower high (Bearish) but formed Lower Low ( Bearish)
3) MACD - Bearish and let waits for 4R1G to bullish reversal
4) RSI - At oversold and went back up to test the 30% ( Slightly Bullish) if break this level will confirm   Bullish
5) STO - Bullish Crossover ( Slightly Bullish) . Waiting for it to break above 20% to confirm bullish
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
Support -  11802/ 11735/ 11628