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Wednesday, February 23, 2011

Malaysia Stock Market – End of the Day

Technically, overall market sentiment is on the horns of a dilemma with disagreement among investors. Some were shunning away from global uncertainty but some saw the opportunity to accumulate


Asian stock markets were mixed Wednesday as investors continued to fret over tensions in the Middle East, though Hong Kong property shares rallied as the announcement of sector-cooling measures was in line with expectations.

"For some, Libya's political crisis and the earthquake in New Zealand appear to be a replay of Egypt's political crisis and Australia's floods. Despite the risk aversion and the volatility in markets, there is also caution that these events also turn out to be another storm in the teacup," said Philip Wee at DBS Group Research in Singapore. (WSJ)

At closing, Japanese market down by 0.80%, Hong Kong down 0.36%, Singapore 0.57% but China edged up 0.25%.

At the local front, FBMKLCI tumbled about 11 points on opening but managed to crawl back to the positive zone in the afternoon session. However, last few minutes selling pushed it back to the negative territory again to end at 1,511.11 (-2.52/0.17%). Total Volume was 1,695m (-47m). (FBMKLCI Chart extracted from Jupiter)

Overall market sentiment gradually recovered from pessimism but remained hesitant. The Oscillator was seen zigzagging uphill and ended at its day-high at +181.38; gained 1,369.29 when compares with its starting point. The Average recorded a loss of 622.91.

Conclusion

Today, FBMKLCI continued to be plagued by the Middle East unrest but gradually recovered most of the losses. After today’s trade, FBMKLCI has fallen off the 100-day SMA and started its new downside route. However, it is opined that the index will be lingering sideways along the path formed by its 50-day SMA and its new support 1,494. (Chart extracted from 188OMS)

In the MSCD, K% Line (yellow) recorded as -703.38 (+14.63), D% Line (red) -448.16 (-13.98) and the Histogram -158.61 (-24.15).

After today’s trade, K% line edged up but D% line fell slightly. The Histogram printed yet another longer negative bar. Technically, overall market sentiment is on the horns of a dilemma with disagreement among investors. Some were shunning away from global uncertainty but some saw the opportunity to accumulate

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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