Meanwhile, the Bollinger Bands expanded 3%, with the FBMACE above the Bollinger Middle Band, thus giving some bullish biased signal. However, more expansion is needed to confirm the signal. Nevertheless, support for the FBMACE is at 3622 while the resistance is at 3891 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic returned to above 70%, re-entering the short term bullish territory. This suggests that the short term movement of the FBMACE is gaining some strength, until the Stochastic should break below 70%.

As circled at C, the MACD histogram stopped falling, and it might be forming a Rounding Bottom. If the MACD histogram should form a Rounding Bottom, it would mean an improvement for the short term movement for the FBMACE. Meanwhile, the MACD line is testing the zero line, and if the MACD should break above the zero line, it means that the mid to longer term movement of the FBMACE is improving.

In short, some bullish biased signal is sighted but more confirmation is needed. Nevertheless, with the FBMACE above the 14, 21, 31 EMA, the technical outlook shall remains positive.

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