|
As indicated
by A, the FBMACE was still supported by the
14, 21, 31 EMA dynamic support, and on
Monday, gaining 50.73 points or 1.22%, to
close at 4208.92 points. Resistance for the
FBMACE is still at 4350 followed by 4500.
As indicated
by B, the Stochastic breaks above 70%,
entering the short term bullish territory.
Technically, if the Stochastic should
remains above 70%, the short term movement
of the FBMACE is expected to be positive.
As the FBMACE
was supported by the 14, 21, 31 EMA, and
consolidating, the MACD histogram was
gradually rising, forming Rounding Bottom.
The rising of the MACD histogram suggests
that the FBMACE is gradually picking up
strength, and the improvement is expected to
continue, until the MACD histogram should
form a Rounding Top.
In conclusion,
the uptrend of the FBMACE is still intact,
with the 14, 21, 31 EMA serving as the
dynamic support. However, to extend the
uptrend, the FBMACE would have to break
above its resistance of 4350.
|