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As indicated
by A, the FBMACE had its intra-low testing
the 31-day EMA again, and it was still
supported by the 31-day EMA, and rebounded
even with a gain of 17.17 points or 0.42%,
to close at 4130.20 points. Resistance for
the FBMACE is at 4500 point as well as its
recent high of 4350, while the support
remains at 3994 or the 4000 psychological
mark.
As indicated
by B, despite the rebound, the Stochastic
remains below 30%, in the short term bearish
territory. This suggests that the short term
movement of the FBMACE is still weak.
As indicated
by C, the MACD histogram is still falling,
thus not yet forming a Rounding Bototm. This
suggests that the FBMACE is still losing
strength, and the weakness of the FBMACE is
expected to continue until the MACD
histogram should form a Rounding Bottom.
In conclusion,
since the FBMACE is still supported by the
31-day EMA, it suggests that the uptrend is
still intact, as the 14, 21, 31 EMA is still
serving as the dynamic support. However,
since there are negative signals from some
technical indicators, it implies that the
overall picture of the FBMACE is not
entirely positive.
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