As indicated by A, the FBMACE continue its technical rebound on Wednesday, gaining another 41.65 points or 1.18%, to close at 3585.82 points. Support for the FBMACE is at 3418 while the resistance is at 3640, as well as the 14, 21, 31 EMA dynamic resistance.

As indicated by B, the Stochastic is still rising, after breaking above 30% on Tuesday. This suggests that the technical rebound signal is still intact, and if the Stochastic should also break above 70%, it would be a short term bullish signal for the FBMACE.

As indicated by C, as the FBMACE continue its technical rebound, the MACD histogram stopped falling, and might be forming a Rounding Bottom. If the MACD histogram should continue rising, it would be forming a Rounding Bottom, thus a signal suggesting that the FBMACE is picking up some strength.

In conclusion, despite the technical rebound, the downtrend for the FBMACE remains intact, and the technical outlook for the FBMACE is still negative, as it is still resisted by the 14, 21, 31 EMA dynamic resistance.

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