Technically, all indicators have collectively depicted a very sad picture for market sentiment especially when participation is scarce.
Asian markets ended mixed Friday, as heightened concerns over Egypt after President Hosni Mubarak defied calls to quit weighed on investors' risk appetite, with shares in South Korea falling amid inflation concerns.
"There's still a belief that Egypt will see a peaceful transition of power, but the theme of risk aversion does seem to be creeping back onto the cards ahead of the weekend break," said Chris Weston, an analyst at IG Markets. (Reuter)
On closing, China market up by 0.34%, Hong Kong 0.54% but Singapore down 0.84%. Japanese market closed for holiday.
At the local front, FBMKLCI tumbled another 13 points shortly after opening but rebounded and moved sideways for the rest of the morning session. In the afternoon, the index slipped deeper but closed off low at 1,194.52 (-9.47/0.63%). Total Volume was 1,679m (-545m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment progressed in pessimism but improved significantly towards closing. The Oscillator swung up and down in the red and ended near its day-high at -1,605.79 gained 890.70 when compare with its starting point. The Average recorded a loss of 1,928.16.
Conclusion
Today, local market coupled with that of Singapore continued to sing in sorrow even both China and Hong Kong markets had returned to positive zone. FBMLCI started with gains but abruptly capped by its 100-Day SMA 1,507 and slumped deep into the red to close at 1,494.52.
Based on charts, there is no indication that the fall has been alleviated and further downswing is still possible. Its next strong support is 1,475 and the 100-Day SMA 1,507 has turned from support into resistance. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -513.76 (-257.07), D% Line (red) -276.77 (-132.77) and the Histogram -67.42 (-42.39).
After today’s trade, both key indicators poured into a bottomless valley and the Histogram printed a longer negative bar. Technically, all indicators have collectively depicted a very sad picture for market sentiment especially when participation is scarce.
Asian markets ended mixed Friday, as heightened concerns over Egypt after President Hosni Mubarak defied calls to quit weighed on investors' risk appetite, with shares in South Korea falling amid inflation concerns.
"There's still a belief that Egypt will see a peaceful transition of power, but the theme of risk aversion does seem to be creeping back onto the cards ahead of the weekend break," said Chris Weston, an analyst at IG Markets. (Reuter)
On closing, China market up by 0.34%, Hong Kong 0.54% but Singapore down 0.84%. Japanese market closed for holiday.At the local front, FBMKLCI tumbled another 13 points shortly after opening but rebounded and moved sideways for the rest of the morning session. In the afternoon, the index slipped deeper but closed off low at 1,194.52 (-9.47/0.63%). Total Volume was 1,679m (-545m). (FBMKLCI Chart extracted from Jupiter)
Overall market sentiment progressed in pessimism but improved significantly towards closing. The Oscillator swung up and down in the red and ended near its day-high at -1,605.79 gained 890.70 when compare with its starting point. The Average recorded a loss of 1,928.16.
ConclusionToday, local market coupled with that of Singapore continued to sing in sorrow even both China and Hong Kong markets had returned to positive zone. FBMLCI started with gains but abruptly capped by its 100-Day SMA 1,507 and slumped deep into the red to close at 1,494.52.
Based on charts, there is no indication that the fall has been alleviated and further downswing is still possible. Its next strong support is 1,475 and the 100-Day SMA 1,507 has turned from support into resistance. (Chart extracted from 188OMS)
In the MSCD, K% Line (yellow) recorded as -513.76 (-257.07), D% Line (red) -276.77 (-132.77) and the Histogram -67.42 (-42.39).After today’s trade, both key indicators poured into a bottomless valley and the Histogram printed a longer negative bar. Technically, all indicators have collectively depicted a very sad picture for market sentiment especially when participation is scarce.
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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