As indicated by A, the FBMACE had its intraday low testing the 31-day EMA (Exponential Moving Average) line, but it managed to rebound from the 31-day EMA, losing only 8.66 points or 0.2%. Therefore, the 14, 21, 31 EMA is still serving as the dynamic support for the FBMACE.

Meanwhile, the Bollinger Bands only expanded 2%, suggesting that the Bollinger Bands might be contracting. If the Bollinger Bands should contracts, it would be a signal suggesting a consolidation for the FBMACE. Support for the FBMACE remains at 3893 WinChart Automatic Fibonacci Retracement while the resistance is at 4060 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic retreated slightly, but remains above 70%, thus the short term bullish signal is still intact, until the Stochastic should break below 70%, then, it would be a signal suggesting a beginning of a technical correction.

As circled at C, the MACD histogram is falling, and might be forming a Rounding Top. If the MACD histogram should form a Rounding Top, it would be a signal suggesting a technical correction for the FBMACE. Meanwhile, the MACD line is still below the zero level, suggesting that the long term movement of the FBMACE is still on the weaker side.

In conclusion, the immediate technical outlook for the FBMACE is still on the positive side as the FBMACE is still supported by the 14, 21 ,31 EMA as well as the Bollinger Middle Band. But the longer term of the FBMACE remains weak.

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