Meanwhile, the Bollinger Bands expanded 24%, with the FBMACE above the Bollinger Middle Band, thus the immediate technical outlook for the FBMACE is still positive. In addition to that, the 14, 21, 31 EMA is still serving as the dynamic support for the FBMACE.

As circled at B, the Stochastic touches 100% again on Friday, thus the short term movement of the FBMACE is indeed over-heated. Nevertheless, despite its over-heating condition, the short term movement of the FBMACE is still bullish bias as long as the Stochastic is above 70%.

As circled at C, the MACD histogram is still rising, and therefore, it has not formed a Rounding Top. This suggests that the FBMACE is still picking up strength, and the improvement of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Top.

In conclusion, the FBMACE is definitely over-heated, thus the chance of a technical correction is high. However, this does not mean that the uptrend is over, for the FBMACE is firmly supported by the 14, 21, 31 EMA.

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