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Friday, June 10, 2011

Malaysia Stock Market - Sentiment Index

Asian stock markets were mixed Friday, with shares in South Korea falling after the central bank raised its benchmark policy rate to get on top of rising inflation pressures. An improved China May trade surplus and Thursday's first gain for U.S. stocks this month failed to galvanize buyers in the region amid still-heightened concerns about the global economic outlook.

Local sentiment remained cautious with the ACE market under selling pressure. The Intra-day Oscillator stayed in the black whole day and ended at +139.65; lost 157.26 when compares with its starting point. The Average recorded a gain of 115.02.

At the end of the day, %K (yellow) of MSCD recorded as -97.04 (+38.54), %D (red) -127.55 (+19.41) and the Histogram -10.83 (+10.34). Both indicators continued to move higher and the Histogram printed another shorter negative bar.

MSCD shows that overall market sentiment continued to gain strength with cautious nibbling on cheap stocks.


FBMKLCI eventually finished higher than the 1,550 level and broke through the downtrend line. However, there is still a limitation of its upside movement as it failed to record a higher high in its last attempt. To confirm its upswing the index must break through its previous highs 1,562 then 1,566. Support remains at 1,550 – 1,541.

FBMSCAP failed to crossover the 12EMA today. The formation of a doji indicates investors hesitant amid numerous uncertainties. The next resistance will be the 20MA which is around 12,810 now.

FBMACE was capped by the downtrend line today and finished off high at 4,256.07. Breaking the trendline will see the index edges to 4,369.02.

FLASH (Bursah)

ECM net profit surged to RM14.32 million in the first quarter ended March 2011 from RM7.25 million in the same quarter last year.

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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