Based on chart, FBMKLCI rebounded last time when it was around the Bollinger Middle Band. Hopefully, the Bollinger Middle Band will play its part again, this time.
Asian stocks finished mostly lower on Friday on concerns over further tightening measures by China after the latest growth figures released on Thursday showed the economy continuing to power ahead.
Japan's stocks fell, capping their biggest weekly loss in three months, as lower commodities prices weighed on energy-related stocks and spurred profit-taking after a recent rally. (Yahoo)
After 5.00pm, Japanese market down by 1.56%, Hong Kong 0.53%, Singapore 0.65% but China up 1.43%,.
At the local front, FBMKLCI echoed to its peers’ sharp fall yesterday tumbled by 7 points immediately after the opening bell. The index sank deeper in the red for the remaining session and ended off low at 1,547.43 (-19.08/1.22%). Total Volume was 1,890m (-259m). (FBMKLCI Chart extracted from Jupiter)
Market sentiment deteriorated in the afternoon after a bad morning session. The Oscillator fell as deep as 2,600 points around 4.00pm and ended off low at -2,305.62 lost 570.15 when comparing with its starting point. The Average recorded a loss of 1,985.05.
Conclusion
In the MSCD, K% Line (yellow) recorded as -445.78 (-279.77), D% Line (red) -148.84 (-146.95) and the Histogram -48.77 (-62.04).
After today’s trade, both key indicators looks like waterfalls pouring deep into the valley. The Histogram printed its first negative bar after 20 positive sessions.
Technically, market sentiment has fallen deep into bearish mode and the breakthrough of the 1,558 support by FBMKLCI will prolong the consolidation time. Though correction after a long bullish trend was deemed healthy but the loss seems too deep and too big in a single day. Fortunately, the index stopped at 1,547 which was the Bollinger Middle Band. The Bollinger Middle Band has been considered as an important support when market undergoes a correction. Breaking which will see the index sliding to its next support at 1,525 – 1,529.
However, as mentioned before, market base remains strong and will be supported by various government-ignite activities. Based on chart, FBMKLCI rebounded last time when it was around the Bollinger Middle Band. Hopefully, the Bollinger Middle Band will play its part again, this time.
Asian stocks finished mostly lower on Friday on concerns over further tightening measures by China after the latest growth figures released on Thursday showed the economy continuing to power ahead.
Japan's stocks fell, capping their biggest weekly loss in three months, as lower commodities prices weighed on energy-related stocks and spurred profit-taking after a recent rally. (Yahoo)
After 5.00pm, Japanese market down by 1.56%, Hong Kong 0.53%, Singapore 0.65% but China up 1.43%,. At the local front, FBMKLCI echoed to its peers’ sharp fall yesterday tumbled by 7 points immediately after the opening bell. The index sank deeper in the red for the remaining session and ended off low at 1,547.43 (-19.08/1.22%). Total Volume was 1,890m (-259m). (FBMKLCI Chart extracted from Jupiter)
Market sentiment deteriorated in the afternoon after a bad morning session. The Oscillator fell as deep as 2,600 points around 4.00pm and ended off low at -2,305.62 lost 570.15 when comparing with its starting point. The Average recorded a loss of 1,985.05.
ConclusionIn the MSCD, K% Line (yellow) recorded as -445.78 (-279.77), D% Line (red) -148.84 (-146.95) and the Histogram -48.77 (-62.04).
After today’s trade, both key indicators looks like waterfalls pouring deep into the valley. The Histogram printed its first negative bar after 20 positive sessions.
Technically, market sentiment has fallen deep into bearish mode and the breakthrough of the 1,558 support by FBMKLCI will prolong the consolidation time. Though correction after a long bullish trend was deemed healthy but the loss seems too deep and too big in a single day. Fortunately, the index stopped at 1,547 which was the Bollinger Middle Band. The Bollinger Middle Band has been considered as an important support when market undergoes a correction. Breaking which will see the index sliding to its next support at 1,525 – 1,529.However, as mentioned before, market base remains strong and will be supported by various government-ignite activities. Based on chart, FBMKLCI rebounded last time when it was around the Bollinger Middle Band. Hopefully, the Bollinger Middle Band will play its part again, this time.
Constructed and Written by Smartbiz (Click on chart to view)
(Note: You can read the explanation for Intra-Day MSO and MSCD from the achieves under heading "Labels" at the lower portion of the sidebar.)
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