Malaysia Stock Market – End of the Day

However, since both key indicators are still in the positive zone, a rebound next week cannot be eliminated. But, the consistency is a concern as the index is staying sky high and long holiday is approaching.

Asian stock markets closed out the week in sluggish mode Friday following weakness on Wall Street and a disappointing U.S labor report.

Oil prices fell to near $91 a barrel as traders mulled whether demand in a slowly recovering U.S. economy will be enough to push crude above $100 soon. In currencies, the dollar was down against the yen and up against the euro.

Analysts in the region were careful not to read too much into Wall Street's lackluster performance from the day before; Asian markets have lives of their own, according to Kwong Man Bun, chief operating officer at KGI Asia Ltd. (Yahoo)

After 5.00pm, Asian major markets mostly ended lower with Japanese market down by 0.86%, China 1.31%, Singapore 0.34% but Hong Kong gained 0.34%.

At the local front, FBMKLCI fell and soaked in the red for the whole session after opening with slight gains. The index ended off low at 1,569.89 (-1.67/0.11%). Total Volume was 2,143m (-561m).

Market sentiment opened in cautiousness but turned weak swiftly. The Oscillator was seen lingering below the negative 1,000 points for the whole session and ended at -1,154.79 lost 1,205.78 when comparing with its starting point. The Average recorded a loss of 1,101.86.

Conclusion

In the MSCD, K% Line (yellow) recorded as +205.59 (-237.63), D% Line (red) +183.46 (-102.86) and the Histogram +124.71 (-25.64).

After today's trade, both key indicators hooked down sharply and K% Line almost touches D% Line. The Histogram printed a shorter bar and confirmed its round top.

Technically, Market sentiment has reached the cross-road after today's intensive profit taking. Selling has not been absorbed well.

However, since both key indicators are still in the positive zone a rebound next week cannot be eliminated. But, the consistency is a concern as the index is staying sky high and long holiday is approaching.

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.)