Meanwhile, the Bollinger Bands contracted 15%, suggesting that the FBMACE is still likely to consolidate. But with the FBMACE now above the Bollinger Middle Band, the immediate technical outlook is slightly improving. Support for the FBMACE remains at 3622 WinChart Automatic Fibonacci Retracement while the resistance is at 31 EMA dynamic resistance.

As circled at B, the Stochastic is still rising, breaking above the 70% by margin. This implies a bullish signal for the short term movement, and if the Stochastic could remain above 70%, more upside movement is expected for the FBMACE.

As circled at C, the MACD histogram is still rising, thus suggesting that the FBMACE is continuously picking up some strength, and the improvement is expected to carry on until the MACD histogram forms a Rounding Top. On the other hand, the MACD line is still below zero level, suggesting that the mid to longer term movement of the FBMACE is still weak.

In conclusion, the FBMACE is still having a technical rebound, and it has not broken away from its downtrend. However, with the FBMACE above the Bollinger Middle Band, the immediate technical outlook is set to improve, but it has to be confirm with the re-expansion of the Bollinger Bands, with the FBMACE above the Bollinger Middle Band.

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