As shown on the chart above, the Bollinger Bands Width contracted 1%, suggesting that the FBMACE is still consolidating. The FBMACE closed 4.83 points or 0.1% higher. Support for the FBMACE is at 4037 WinChart Automatic Fibonacci Retracement while the resistance are seen at 4106 followed by 4175 WinChart Automatic Fibonacci Retracement.

As indicated by A, the Bollinger Bands Width contracted only 1%, and this implies that the Bollinger Bands Width might be expanding soon. Fortunately, the FBMACE is now above the Bollinger Middle Band, and therefore, if the Bollinger Bands Width should re-expand with the FBMACE above the Bollinger Middle Band, it would be a bullish signal for the FBMACE.

As circled at B, the WinChart RSI is still rising gradually, and it touched 50% level on Friday. Despite the WinChart RSI is showing some sign of improvement, it has not signaled any mid term bullish signal for the FBMACE yet. Technically speaking, the WinChart RSI has to break above 70% level in order to signal a mid term bullish signal.

As circled at C, the Stochastic continued rising, breaking slightly above 90% level. This suggests that the short term movement of the FBMACE is bullish. Provided that the Stochastic is still above 70% level, the short term bullish signal shall remains intact.

Despite the short term bullish signal of the Stochastic, the Bollinger Bands Width has not expanded, and therefore, it has not confirmed the bullish biased signal. In short, the Bollinger Bands Width has to expand clearly, with the FBMACE above the Bollinger Middle Band, then only the FBMACE would have a chance to regain its strength.

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