Asian markets ended with moderate gains except Singapore which rose by 1.99% due to improved GDP figure.At the local front, FBM KLCI tumbled immediately after the bell and stayed in the red whole day to end off low at 1,186.28 lost 1.72. Total Volume increased by 295 mln shares to 1,165 mln shares.
Market sentiment picked up slowly with the Oscillator climbing higher and higher to end at +567.84 gained 434.12 from the starting. The Average recorded a gain of 321.67.
Market sentiment picked up slowly with the Oscillator climbing higher and higher to end at +567.84 gained 434.12 from the starting. The Average recorded a gain of 321.67.
The Key Indicator (Blue) of the Daily MSO Chart hooked slightly down to +143.45 lost 29.82.
MS20 continued to edge higher but MS50 continued to face down.
ConclusionMarket traded in two-tier status with KLCI counters took a breather and small-caps took turn to edge higher.
MSO also depicts mixed signals with MS20 continued to climb higher but MS50 slid in a downtrend channel.
MSO is trying to put forward a message that long term base is comparatively weak but near term market strength is still sustainable so long as MS5 or the Key Indicator stays above MS50. (Constructed and Shared by Smartbiz)
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