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Wednesday, February 16, 2011

Malaysia Stock Market – End of the Day

When market sentiment is unsure of the future, most low liners will stay in low profiles.

Asian share markets were mixed Wednesday, with exporters in Tokyo rising on the yen's weakness while shares in China rose modestly as the latest inflation data tempered concerns about further aggressive tightening measures from Beijing. (WSJ)

On closing, Japanese market up by 0.57%, China 0.83%, Hong Kong 1.12% and Singapore down 0.46%.

At the local front, FBMKLCI tumbled more than 10 points on opening but rebounded and lingering below the neutral line for the rest of the session. However, last two hours buying pulled the index to end at its day-high at 1,506.30 (+0.97/0.06%). Total Volume was 1,878m (-100m). (FBMKLCI Chart extracted from Jupiter)

Overall market sentiment was weak but buying support prevented it from deteriorating. The Oscillator was seen hovering along the same level in the red but last minute buying pulled it to end at its day-high at -633.96, gained 158.17 when compare with its starting point. The Average recorded a loss of 798.31.


Today, market traded with hesitation after yesterday’s gain as some regional markets turned sour. FBMKLCI opened low and closed at its day-high but remains under the 100-Day SMA. The index has failed in 3 instances in attempt to break this overhead resistance.

Based on charts, the index has stabilized but forward movement is still uncertain. The index must first break through the 100-Day SMA before resuming its upward movement. Its immediate resistance is 1,509 then 1,516, 1,520. It must crossover the Middle Bollinger Band, which is 1,535 now, to confirm the reversal. Its supports are 1,490, 1,486 and 1,475. (Chart extracted from 188OMS)

In the MSCD, K% Line (yellow) recorded as -361.94 (-79.31), D% Line (red) -228.59 (-45.60) and the Histogram -85.74 (-11.90).

After today’s trade, both key indicators hooked slightly down and the Histogram printed yet another longer negative bar. Technically, overall market sentiment is still cautious with some buying on weaknesses. Most investors are not sure of the future of the market. When market sentiment is unsure of the future, most low liners will stay in low profiles.

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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