Asian shares kicked off the quarter on a positive note, tracking overnight gains on Wall Street after the Greek Parliament approved a plan to begin implementing austerity measures.
Local sentiment lost steam near the afternoon break with the intra-day Oscillator slid into the red but finished off low at -66.12; lost 218.61 when compares with its starting point. The Average recorded a loss of 21.85.
At the end of the day, %K (yellow) of MSCD recorded as -70.47 (+8.84), %D (red) -115.39 (+7.49) and the Histogram +15.88 (+7.26). Both indicators continued to edge higher and the Histogram printed its second positive bar.
MSCD shows that overall market sentiment maintains its optimistic move but progress with cautiousness as evident by the shrinking volume. However, the consistently manipulation of the key index will slowly erode market confidence.
FBMKLCI
FBMKLCI actually fell into the red before the break and was below the neutral level for the rest of the day. But, again, last minute manipulation pulled it up by about 5 points to end at its day high at 1,582.94. The index has the tendency to move higher but majority of its gains were due to manipulation.
FBMSCAP failed to sustain its gain today and ended at 12,716 lost 8.37. The index might take a breather from here. Its next support will be the 20MA which is around 12,675 now.
FBMACE lost 31.88 points and formed yet another black candle today. ACE Market will continue to be subdued until the index breaks off from its downtrend channel.
Constructed and Written by Smartbiz (FBMKLCI Chart extracted from ChartNexus)
Local sentiment lost steam near the afternoon break with the intra-day Oscillator slid into the red but finished off low at -66.12; lost 218.61 when compares with its starting point. The Average recorded a loss of 21.85.
At the end of the day, %K (yellow) of MSCD recorded as -70.47 (+8.84), %D (red) -115.39 (+7.49) and the Histogram +15.88 (+7.26). Both indicators continued to edge higher and the Histogram printed its second positive bar.
MSCD shows that overall market sentiment maintains its optimistic move but progress with cautiousness as evident by the shrinking volume. However, the consistently manipulation of the key index will slowly erode market confidence.FBMKLCI
FBMKLCI actually fell into the red before the break and was below the neutral level for the rest of the day. But, again, last minute manipulation pulled it up by about 5 points to end at its day high at 1,582.94. The index has the tendency to move higher but majority of its gains were due to manipulation.
FBMSCAP failed to sustain its gain today and ended at 12,716 lost 8.37. The index might take a breather from here. Its next support will be the 20MA which is around 12,675 now.
FBMACE lost 31.88 points and formed yet another black candle today. ACE Market will continue to be subdued until the index breaks off from its downtrend channel.
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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