Meanwhile, the Bollinger Bands only expanded 4%, and this implies that the Bollinger Bands could be contracting again, which means that the FBMACE could consolidate again. However, with the FBMACE 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 remains below 30%, in the short term bearish territory. This suggests that the short term market movement for the FBMACE is still weak.

As circled at C, despite the rebound of the FBMACE, the MACD Histogram is still falling, and the falling of the MACD histogram suggests that the FBMACE is basically still losing strength, and the weakening movement of the FBMACE is expected to carry on until the MACD histogram should form a Rounding Bottom.

In conclusion, after falling sharply for a few days, the FBMACE is temporary supported by the 4199 WinChart Automatic Fibonacci Retracement, and rebounded slightly. However, as long as the FBMACE is still resisted by the 14, 21, 31 EMA dynamic resistance, the technical outlook shall remain weak.

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