As indicated by A, the FBMACE had its intraday high reaching 4066.18 points, but as it was getting closer to the 4100 resistance, profit taking activities started to increase, which pushes the FBMACE lower, to close the day with 19.72 points or 0.49%. The 14, 21, 31 EMA is now serving as the dynamic support to the FBMACE.

As indicated by B, the Stochastic retreated slightly on Thursday, but still able to stay above the 70% level, in the short term bullish territory. This suggests that the short term movement of the FBMACE is still positive.

As indicated by C, the MACD histogram started falling, and might be forming a Rounding Top. Technically, the falling of the MACD histogram suggests that the FBMACE is losing strength.

In conclusion, since breaking above the 14, 21, 31 EMA, the FBMACE started to break away from its downtrend. However, until now the FBMACE has not formed higher-lows, thus not yet forming an uptrend. Nevertheless, with the FBMACE above the 14, 21, 31 EMA dynamic support, the immediate technical outlook for the FBMACE is now positive.

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