Malaysia Stock Market - Sentiment Index

Asian stock markets were mixed Friday, as caution prevailed amid another ratings agency warning on U.S. government debt and ahead of the results of euro-zone bank stress tests.

Local sentiment continued to subsiding as global debt woes persisted. The intra-day Oscillator began in negative zone and ended at -282.80; lost 203.88 when compares with its starting point. The Average recorded a loss of 223.56.

At the end of the day, %K(yellow) of MSCD recorded as -153.51 (-12.73), %D(red) -135.66 (-7.03) and the Histogram +6.50 (-6.09). Both indicators fell deeper and the Histogram printed another shorter bar though remains in the positive zone.

MSCD shows that overall market sentiment continues to subsiding as both indicators fell nearer to the supporting line of the uptrend channel.

FBMKLCI

FBMKLCI fell off from the supporting line but rebounded and finished exactly on the 20MA. Chart indicators shows that the downturn shall remain and more downside will be seen in the following sessions. Its immediate support is the 30EMA around 1,570 and then, the 50EMA or its previous low 1,561.

FBMSCAP failed to stop at the immediate support and slid another 32 points yesterday. Though the Stochastic has dipped in the oversold area but the downturn will continue until candles slide below the Lower Bollinger Band. Its immediate support is 12,547 but unlikely to sustain.

FBMACE printed a black “Hammer” yesterday indicating buying emerged when the index fell below its support around 4,098. Unfortunately, the buying support was not strong enough to reverse the index. The index will be lingering around the same range with the downtrend line acts as its all-time resistance.

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.)