Meanwhile, the Bollinger Bands is expanding a little, with the FBMACE below the Bollinger Middle Band. If the Bollinger Bands should continue to expand, while the FBMACE below the Bollinger Middle Band, more down side movement is likely for the FBMACE.

As circled at B, the Stochastic stays around 50%, while suggesting that the short term neutral signal. If the Stochastic should later break below 30%, it would be a short term bearish signal for the FBMACE.

As circled at C, the MACD histogram is still moving sideways and the signals are unclear. Nevertheless, the MACD line is still below the zero level, and this suggests that the mid to longer term view of the FBMACE movement is on the negative side.

Despite the KLCI is testing its historical new high, the technical outlook for the FBMACE remains bearish biased, as it is still resisted by the 14, 21, 31 EMA as well as the L1 line. Next support for the FBMACE is at 4113 WinChart Automatic Fibonacci Retracement followed by 4000 psychological support.

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