As indicated by A, the FBMACE tested the 4601 WinChart Automatic Fibonacci Retracement resistance again on Thursday, closing 82.71 points or 1.8% higher at 4621.99 points. If the FBMACE should stay above this level, the 4601 WinChart Automatic Fibonacci Retracement shall become the immediate support for the FBMACE while the next resistance is seen at 4790 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the FBMACE is still staying above the rising 14, 21, 31 EMA, which is serving as the dynamic support. This suggests that the FBMACE is still trending up. Technically, provided that the FBMACE is still supported by the dynamic support, the uptrend shall remain intact.

As circled at B, not only that the Stochastic did not break below 70% level, it rebounded and touched the 100% level instead. This suggests that the short term movement of the FBMACE is still strong, while the short term bullish signal remains intact.

As circled at C, the MACD histogram is still showing some sign of a Rounding Top formation, but not obvious. Therefore, this signal is yet to be confirmed. If the MACD histogram should continue falling, it would be a signal suggesting that the FBMACE is due for a consolidation or it might be weakening.

In short, there is some implication of a consolidation as the Bollinger Bands is contracting. Nevertheless, provided that the 14, 21, 31 EMA as well as the Bollinger Middle Band are still supporting the FBMACE, the uptrend is still intact.

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