This might not be a strong reversal but so long as no significant pull-back for FBMKLCI, low-liners will catch up the train and move ahead.
Asian stock markets were mostly higher Tuesday, led by a surge in Japanese stocks on signs of progress in containing the country's nuclear crisis, but markets remained watchful of fresh developments in Libya.
"Obviously we were priced for Armageddon last week, but I think the easy snap-back gains have probably been seen and now we will see if investors are prepared to buy on strength and bet that the Japanese nuclear crisis is over and oil prices aren't going to derail global markets," said Ben Potter, market strategist at IG Markets. (WSJ)
At closing, Japanese market gained 4.36%, China 0.34%, Hong Kong 0.76%, Singapore 0.63% and Malaysia 0.01%.
FBMKLCI
FBMKLCI opened with nearly 6-point gain but slumped towards the negative zone immediately. The index then hovered along the zero level for the rest of the day and finished almost at par at 1,509.10 (+0.22/0.01%). Total Volume was 1,434m (+239m), gainer 518 and loser 250. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment started in high note but followed the key index receded slowly. The Oscillator moved sideways in the afternoon session and ended at +856.77; lost 189.74 when compares with its starting point. The Average recorded a gain of 671.96.
Conclusion
FBMKLCI defied regional trend but moved downwards today. The index was capped by the formidable 100-day SMA around 1,515 and finished exactly on the projected downtrend line, 1,509. The upside trajectory has been curbed and chances are high that the index will be moving in tight range between the 100-day SMA and the Middle Bollinger Band, 1,502. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as -15.67 (+124.98), %D Line (red) -186.21 (+68.68) and the Histogram +55.57 (+28.74). Both indicators surged higher and K Line is nearer to the positive territory now. The Histogram printed a longer positive bar.
D line eventually formed a higher-high and the bullish reversal of market sentiment is confirmed. This might not be a strong reversal but so long as no significant pull-back for FBMKLCI, low-liners will catch up the train and move ahead.
Asian stock markets were mostly higher Tuesday, led by a surge in Japanese stocks on signs of progress in containing the country's nuclear crisis, but markets remained watchful of fresh developments in Libya.
"Obviously we were priced for Armageddon last week, but I think the easy snap-back gains have probably been seen and now we will see if investors are prepared to buy on strength and bet that the Japanese nuclear crisis is over and oil prices aren't going to derail global markets," said Ben Potter, market strategist at IG Markets. (WSJ)
At closing, Japanese market gained 4.36%, China 0.34%, Hong Kong 0.76%, Singapore 0.63% and Malaysia 0.01%.
FBMKLCI FBMKLCI opened with nearly 6-point gain but slumped towards the negative zone immediately. The index then hovered along the zero level for the rest of the day and finished almost at par at 1,509.10 (+0.22/0.01%). Total Volume was 1,434m (+239m), gainer 518 and loser 250. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment started in high note but followed the key index receded slowly. The Oscillator moved sideways in the afternoon session and ended at +856.77; lost 189.74 when compares with its starting point. The Average recorded a gain of 671.96.
ConclusionFBMKLCI defied regional trend but moved downwards today. The index was capped by the formidable 100-day SMA around 1,515 and finished exactly on the projected downtrend line, 1,509. The upside trajectory has been curbed and chances are high that the index will be moving in tight range between the 100-day SMA and the Middle Bollinger Band, 1,502. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as -15.67 (+124.98), %D Line (red) -186.21 (+68.68) and the Histogram +55.57 (+28.74). Both indicators surged higher and K Line is nearer to the positive territory now. The Histogram printed a longer positive bar.D line eventually formed a higher-high and the bullish reversal of market sentiment is confirmed. This might not be a strong reversal but so long as no significant pull-back for FBMKLCI, low-liners will catch up the train and move ahead.
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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