As indicated by A, the Bollinger Bands continue to expand on Thursday, (+58%) while the FBMACE is still above the Bollinger Middle Band, and as a result, the FBMACE rose another 117.82 points or 2.6%. Since the FBMACE has broken above the 4488 WinChart Automatic Fibonacci Retracement, next resistance for the FBMACE is seen at 4839 WinChart Automatic Fibonacci Retracement, while the Bollinger Middle Band is still serving as the dynamic support.

With the Bollinger Bands expanding, and the FBMACE supported by the rising Bollinger Middle Band, the outlook for the FBMACE is bullish biased. If the Bollinger Bands should continue expanding, while the Bollinger Middle Band is still supporting the FBMACE, more upside room is likely for the FBMACE.

As circled at B, the Stochastic is still staying above the 70% level, which suggests that the short term movement of the FBMACE is still bullish biased. Provided that the Stochastic could remain above 70% level, the short term bullishness of the FBMACE is expected to continue. If the Stochastic should break below 70% level, it would be a signal suggesting a beginning of a technical correction.

As circled at C, the MACD histogram is still rising, while breaking above the zero level. This shows that the FBMACE is still gaining strength. Technically speaking, if the the MACD histogram is still rising, the improvement of the FBMACE is likely to sustain, until the MACD histogram should form a Rounding Top.

In conclusion, the FBMACE is forming an uptrend with the Bollinger Middle Band as the dynamic support, with Primary indicator (Bollinger Bands) and Secondary Indicators (MACD and Stochastic) showing positive signals. Provided that the Bollinger Bands is still expanding, and the external factor is not worsen, the rally of the FBMACE is expected to continue.

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