So far, the index has lost about 50 points from its recent peak at 1,576 and now, the correction has come to another critical stage. If the index fell off from its uptrend channel, then, 1,500 will be another downside target.
Asian stocks ended mixed. After 5.00pm, Japanese market up by 1.15% but China down 0.68%, Hong Kong 0.05% and Singapore 0.14%.
At the local front, FBMKLCI failed to sustain its gain but fell deep into the red again. The index slid all the way to end at its day-low at 1,526.43 (-16.54/1.07%). Total Volume was 1,920m (-87m). (FBMKLCI Chart extracted from Jupiter)
Market sentiment boosted by overnight gain of Dow Jones opened in high note but receded slowly as the FBMKLCI breaking its downside supports from one to another. The Oscillator slid more than 2,000 points and ended off low at -946.79 lost 2,018.61 when comparing with its starting point. The Average recorded a loss of 90.75.
Conclusion
In the MSCD, K% Line (yellow) recorded as -456.51 (+66.48), D% Line (red) -199.33 (+8.69) and the Histogram -133.06 (-31.03).
After today’s trade, both key indicators hooked slightly up but the Histogram printed another negative bar. Technically, market sentiment is still bearish but selling seems alleviated and well absorbed.
Today, FBMKLCI retraced another 16 points and is in the vicinity of its uptrend support line. So far, the index has lost about 50 points from its recent peak at 1,576 and now, the correction has come to another critical stage. If the index fell off from its uptrend channel, then, 1,500 will be another downside target.
Asian stocks ended mixed. After 5.00pm, Japanese market up by 1.15% but China down 0.68%, Hong Kong 0.05% and Singapore 0.14%.
At the local front, FBMKLCI failed to sustain its gain but fell deep into the red again. The index slid all the way to end at its day-low at 1,526.43 (-16.54/1.07%). Total Volume was 1,920m (-87m). (FBMKLCI Chart extracted from Jupiter)Market sentiment boosted by overnight gain of Dow Jones opened in high note but receded slowly as the FBMKLCI breaking its downside supports from one to another. The Oscillator slid more than 2,000 points and ended off low at -946.79 lost 2,018.61 when comparing with its starting point. The Average recorded a loss of 90.75.
ConclusionIn the MSCD, K% Line (yellow) recorded as -456.51 (+66.48), D% Line (red) -199.33 (+8.69) and the Histogram -133.06 (-31.03).
After today’s trade, both key indicators hooked slightly up but the Histogram printed another negative bar. Technically, market sentiment is still bearish but selling seems alleviated and well absorbed.
Today, FBMKLCI retraced another 16 points and is in the vicinity of its uptrend support line. So far, the index has lost about 50 points from its recent peak at 1,576 and now, the correction has come to another critical stage. If the index fell off from its uptrend channel, then, 1,500 will be another downside target.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.)
No comments:
Post a Comment