Asian stock markets were lower on Tuesday, as sentiment took a beating after ratings agency Standard & Poor's cut its outlook on U.S. government debt. Chip makers in Japan and Taiwan were also hurt by Texas Instruments' smaller-than-expected first quarter earnings and profit warning.
Local sentiment continued in weaker tone as external issue remained gloomy. The intra-day Oscillator was seen hovering along the same level for the whole session but last few minutes buying lifted it to end at its day-high at -392.79; gained 224.29 when compares with its starting point. The Average recorded a loss of 577.00.
At the end of the day, %K Line (yellow) of MSCD recorded as -116.74 (-83.65), %D Line (red) -70.39 (-40.54) and the Histogram -4.32 (-10.51). Both indicators fell slightly and the Histogram printed its first negative bar.
The MSCD shows that overall sentiment was directionless. Low-liners will continue to succumb to selling pressure except those news-driven counters. Trader should stay calm while waiting for clearer indication.
FBMKLCI
FBMKLCI fell to new low but managed to finish above the 50-day MA around 1,517. There is no sign from the entire scenarios saying that the index will be reversing soon. The index should be lingering around 1,517 – 1,535 (Middle Bollinger band) with downside bias.
Local sentiment continued in weaker tone as external issue remained gloomy. The intra-day Oscillator was seen hovering along the same level for the whole session but last few minutes buying lifted it to end at its day-high at -392.79; gained 224.29 when compares with its starting point. The Average recorded a loss of 577.00.
At the end of the day, %K Line (yellow) of MSCD recorded as -116.74 (-83.65), %D Line (red) -70.39 (-40.54) and the Histogram -4.32 (-10.51). Both indicators fell slightly and the Histogram printed its first negative bar.
The MSCD shows that overall sentiment was directionless. Low-liners will continue to succumb to selling pressure except those news-driven counters. Trader should stay calm while waiting for clearer indication.FBMKLCI
FBMKLCI fell to new low but managed to finish above the 50-day MA around 1,517. There is no sign from the entire scenarios saying that the index will be reversing soon. The index should be lingering around 1,517 – 1,535 (Middle Bollinger band) with downside bias.
Constructed and Written by Smartbiz (FBMKLCI Chart extracted from ChartNexus)
(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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