Meanwhile, the Bollinger Bands expanded 69%, with the FBMACE above the Bollinger Middle Band, thus the immediate technical outlook for the FBMACE is still bullish biased. Generally, the rally of the FBMACE is likely to continue until the contraction of the Bollinger Bands or the expansion rate decreases.

As circled at B, the Stochastic is still rising, and touching 100% level. This suggests that the short term movement of the FBMACE is still bullish biased, and the short term bullishness shall carry on until the Stochastic should break below 70%.

As circled at C, the MACD histogram is still rising, and forming a Rounding Bottom. This suggests that the FBMACE movement is improving. Generally, the improvement is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, while consolidating, the FBMACE was supported by the 14, 21, 31 EMA, thus not forming a downtrend. After the bullish Bollinger Bands signal, the FBMACE breaks away from the sideways consolidation and regain its strength. Provided that the FBMACE is still supported by the 14, 21, 31 EMA, the technical outlook is expected to be on the positive side.

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