As indicated by A, the FBMACE rebounded 32.66 points or 0.8% on Tuesday, after falling for a few days. The FBMACE managed to rebound from the 31-day EMA. Resistance for the FBMACE is at 4500 followed by its recent high of 4350 while the support is at 3994 Fibonacci Retracement line or 4000 point.

Despite rebounding over 30 points, the Stochastic remains below 30%, as indicated by B. This suggests that the short term movement of the FBMACE is still weak.

As indicated by C, the MACD histogram is still falling, suggesting that the FBMACE is losing strength. The weakness of the FBMACE is expected to continue, until the MACD histogram should form a Rounding Bottom.

In conclusion, the uptrend of the FBMACE is still intact, despite negative signals from technical indicators. Technically, if the FBMACE could rebound from the 14, 21, 31 EMA dynamic support, and forms higher-lows, the uptrend could even be extended.

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