Asian stock markets rose Wednesday, with signs of progress in U.S. debt ceiling negotiations boosting investor sentiment, while tech plays around the region climbed after U.S. technology titans Apple and IBM posted strong earnings.
Local sentiment was cheered by the recovery of regional markets this morning but excitement receded gradually. The intra-day Oscillator slid and only last few minutes buying lifted it to end off low at +368.78; lost 6.53 when compares with its starting point. The Average recorded a gain of 283.67.
At the end of the day, %K(yellow) of MSCD recorded as -173.31 (+83.06), %D(red) -155.19 (+35.12) and the Histogram -17.35 (-0.19). %K rebounded and returned to the uptrend channel and the Histogram printed another negative bar.
MSCD shows that overall market sentiment progressed with some improvement but uncertainty remains as the histogram fell into negative zone.
FBMKLCI
FBMKLCI rebounded yesterday but ended off high at 1,562 which is its 50EMA. As the index failed to break the resistance line, the index will most probably be moving sideways until breakout was seen. The 50EMA remains as an immediate resistance and next, 1,570. Supports will be the same - 1,552 and then 1,543.
FBMSCAP also capped by the resistance line and finished off high yesterday. The index will only be lingering within the downtrend line and its support until a breakthrough was seen.
FBMACE capped by the 12EMA to form a doji with a longer upper shadow. The index is still gathering strength to break its 20MA around 4,160.
Local sentiment was cheered by the recovery of regional markets this morning but excitement receded gradually. The intra-day Oscillator slid and only last few minutes buying lifted it to end off low at +368.78; lost 6.53 when compares with its starting point. The Average recorded a gain of 283.67.
At the end of the day, %K(yellow) of MSCD recorded as -173.31 (+83.06), %D(red) -155.19 (+35.12) and the Histogram -17.35 (-0.19). %K rebounded and returned to the uptrend channel and the Histogram printed another negative bar.
MSCD shows that overall market sentiment progressed with some improvement but uncertainty remains as the histogram fell into negative zone.
FBMKLCI
FBMKLCI rebounded yesterday but ended off high at 1,562 which is its 50EMA. As the index failed to break the resistance line, the index will most probably be moving sideways until breakout was seen. The 50EMA remains as an immediate resistance and next, 1,570. Supports will be the same - 1,552 and then 1,543.FBMSCAP also capped by the resistance line and finished off high yesterday. The index will only be lingering within the downtrend line and its support until a breakthrough was seen.
FBMACE capped by the 12EMA to form a doji with a longer upper shadow. The index is still gathering strength to break its 20MA around 4,160.
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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