Asian stock markets were slightly lower Friday, with Japanese stocks dragged by the yen's recent strength while many markets were shut to mark Good Friday. Markets in Australia, Hong Kong, India, Indonesia, New Zealand, the Philippines and Singapore were closed for public holidays.
Local sentiment progressed in weaker notes due to lack of fresh lead. The intra-day Oscillator slid into the red but managed to end at +37.64; lost 206.29 when compares with its starting point. The Average recorded a loss of 62.52.
At the end of the day, %K Line (yellow) of MSCD recorded as +46.58 (-19.83), %D Line (red) +9.88 (-5.79) and the Histogram +15.43 (+5.32). Both indicators slid slightly but the Histogram printed another positive bar.
The MSCD shows that overall sentiment was cautious as the key index failed to sustain its upward swing. Low-liners inclusive of those ACE counters might lose steam if the key index continues to trend downward.FBMKLCI
FBMKLCI printed yet another black candle and closing at 1,522. The index might go down to test the 1,517 support again as all indicators remain bearish. The respectful support has been tested 3 times within two weeks and it is not a good sign to encounter again.
Concurrently, FBMACE printed a Doji and signals its uncertainty ahead. ACE counters might lose steam if the key index breaks 1,517.Today's Pick: Handal (Contract extended. Entry: >0.755 Stop Loss: <0.725 Res: 0.795. 0.81, 0.855)
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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