Market sentiment receded slightly due to the volatility of the key index. However, rotational play will continue but gains will be limited.
Asian stock markets were mostly higher on Thursday, but the Tokyo market struggled to make headway amid continued uncertainty about the stability of a troubled nuclear power complex, and on concerns about the economic cost of this month's crippling earthquake and tsunami. (WSJ)
At closing, Japanese market shed 0.15%, China 0.06% but Hong Kong gained 0.39%, Singapore 0.69% and Malaysia 0.12%.
FBMKLCI
FBMKLCI opened with nearly 5-point loss but, again, crawled back to positive zone after two hours. The index accelerated in the afternoon session and ended off high at 1,513.84 (+1.87/0.12%). Total Volume was 1,042m (-252m), gainer 444 and loser 299. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment
Market sentiment lost strength but followed the index picked up in the afternoon session and ended at +346.46; lost 183.91 when compares with its starting point. The Average recorded a gain of 253.47.
Conclusion
FBMKLCI was capped by the 100-day SMA and finished just above the projected downtrend line, today. Based on charts, upside trajectory remains intact but momentum has slow down. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as +87.69 (+30.13), %D Line (red) -109.28 (+29.03) and the Histogram +106.32 (+22.66). Both indicators moved higher but momentum has slow down. The Histogram printed another longer positive bar.
Market sentiment receded slightly due to the volatility of the key index. However, rotational play will continue but gains will be limited.
Asian stock markets were mostly higher on Thursday, but the Tokyo market struggled to make headway amid continued uncertainty about the stability of a troubled nuclear power complex, and on concerns about the economic cost of this month's crippling earthquake and tsunami. (WSJ)
At closing, Japanese market shed 0.15%, China 0.06% but Hong Kong gained 0.39%, Singapore 0.69% and Malaysia 0.12%.
FBMKLCI FBMKLCI opened with nearly 5-point loss but, again, crawled back to positive zone after two hours. The index accelerated in the afternoon session and ended off high at 1,513.84 (+1.87/0.12%). Total Volume was 1,042m (-252m), gainer 444 and loser 299. (FBMKLCI Chart extracted from Jupiter)
Market Sentiment Market sentiment lost strength but followed the index picked up in the afternoon session and ended at +346.46; lost 183.91 when compares with its starting point. The Average recorded a gain of 253.47.
ConclusionFBMKLCI was capped by the 100-day SMA and finished just above the projected downtrend line, today. Based on charts, upside trajectory remains intact but momentum has slow down. (Chart extracted from ChartNexus)
On the other hand, %K Line (yellow) of MSCD recorded as +87.69 (+30.13), %D Line (red) -109.28 (+29.03) and the Histogram +106.32 (+22.66). Both indicators moved higher but momentum has slow down. The Histogram printed another longer positive bar.Market sentiment receded slightly due to the volatility of the key index. However, rotational play will continue but gains will be limited.
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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