As shown on the chart above, the Bollinger Bands Width of the FBM2nd Board Index is still contracting, suggesting the FBM2nd Board Index is still consolidating. However, as indicated by A, the Bollinger Middle Band is still falling while the FBM2nd Board Index is still below the Bollinger Middle Band, therefore, the immediate outlook for the FBM2nd Board Index is still bearish biased. Meanwhile, since the FBM2nd Board Index is touching another new low on Friday, there is still no reliable support for the FBM2nd Board Index at the moment.

As circled at B, the Stochastic remains below the 30% level, suggesting the market movement for the short term is still bearish. In short, unless the Stochastic could break above 30% level, the short term movement of the FBM2nd Board Index is expected to be bearish biased.

As circled at C, the MACD line crosses above the trigger line by margin on Friday, and as a result, the MACD histogram is now above the zero level. However, since the FBM2nd Board Index is still making new low, coupled with an unclear signal from the Bollinger Bands Width, which is a primary indicator, the signal of the MACD might be over sensitive.

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