Meanwhile, the Bollinger Bands contracted 26%, and this suggests that the FBMACE is still consolidating, but with the FBMACE staying below the Bollinger Middle Band, the immediate technical outlook for the FBMACE is on the negative side.

As circled at B, the Stochastic rebounded slightly on Wednesday, but it is still below 30%, in the short term bearish territory. Therefore, this suggests that the short term movement of the FBMACE is still weak.

As circled at C, the MACD histogram is still rising gradually, and therefore, it is still showing a Rounding Bottom. Technically, if the MACD histogram is still rising, it implies that the FBMACE is still consolidating, or the short term movement of the FBMACE is gradually improving.

In conclusion, the technical outlook for the FBMACE remains weak, but the MACD histogram is still suggesting an improving signal. Nevertheless, with the Bollinger Bands still contracting, the FBMACE is expected to stay in a consolidating mood.

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