Asian stock markets were higher Wednesday, as Wall Street's gains on the back of strong earnings reports from the likes of Intel buoyed tech shares around the region.
Local sentiment started in high notes but failed to sustained as the intra-day Oscillator sliding all the way down and only last minute buying pulled it to end at +523.89; lost 594.23 when compares with its starting point. The Average recorded a gain of 635.78.
At the end of the day, %K Line (yellow) of MSCD recorded as -1.00 (+115.74), %D Line (red) -18.07 (+52.33) and the Histogram -0.04 (+4.28). Both indicators hooked up and K Line crossovers D Line and recorded a new high. The Histogram printed a shorter negative bar.
The MSCD shows that overall sentiment has shown some strength but strength remains unconfirmed before it return to its uptrend channel. Some nibbling on low-liners and small-caps was seen across the board.
FBMKLCI
FBMKLCI printed its first white candle after a streak of 4 black candles. But, the index remains under the Middle Bollinger Band and still considered as short-term bearish. However, all oscillators have pointed to a possible reversal after more than a week of selling. The overhead resistance is around 1,535 – 1,540 and support remains at 1,517.
Local sentiment started in high notes but failed to sustained as the intra-day Oscillator sliding all the way down and only last minute buying pulled it to end at +523.89; lost 594.23 when compares with its starting point. The Average recorded a gain of 635.78.
At the end of the day, %K Line (yellow) of MSCD recorded as -1.00 (+115.74), %D Line (red) -18.07 (+52.33) and the Histogram -0.04 (+4.28). Both indicators hooked up and K Line crossovers D Line and recorded a new high. The Histogram printed a shorter negative bar.
The MSCD shows that overall sentiment has shown some strength but strength remains unconfirmed before it return to its uptrend channel. Some nibbling on low-liners and small-caps was seen across the board.FBMKLCI
FBMKLCI printed its first white candle after a streak of 4 black candles. But, the index remains under the Middle Bollinger Band and still considered as short-term bearish. However, all oscillators have pointed to a possible reversal after more than a week of selling. The overhead resistance is around 1,535 – 1,540 and support remains at 1,517.
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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