FBMACE-2012-02-09e

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On Thursday, the FBMACE had its intraday high reaching 4708.68 points, but it only manged to close at 4679 points, up 8.9 points or 0.19%. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the FBMACE, while the resistance remains at 4750.

As indicated by B, the Stochastic fell slightly, but still above 70%, in the short term bullish region. This suggests that the short term movement of the FBMACE is still positive. If the Stochastic should break below 70%, it would be a signal suggesting a beginning of a technical correction.

As indicated by C, the DMI +DI line is still above the -DI line, suggesting that the uptrend is still intact.

In conclusion, the uptrend remains intact for the FBMACE, but since the FBMACE is forming a Doji star, it implies that the FBMACE might have a correction. Nevertheless, a correction is only normal for the FBMACE, and provided that the FBMACE could remain supported by the 14, 21, 31 EMA dynamic support, the technical outlook shall remain positive.

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