Asian shares rose Friday after euro-zone leaders Thursday struck a deal on a second bailout package for Greece, delivering a much needed shot in the arm to stocks around the region, and sending regional bank stocks and some oil plays higher.
Local sentiment progressed in cautiously optimism yesterday with the Intra-day Oscillator lingering in tight range during earlier session. However, buying emerged after break and pulled the Oscillator to end at its day-high at +553.68; gained 292.07 when compares with its starting point. The Average recorded a gain of 203.62.
At the end of the day, %K(yellow) of MSCD recorded as -107.70 (+56.58), %D(red) -125.80 (+26.36) and the Histogram -9.45 (+6.89). Both indicators surged higher and %K cut %D decisively. The Histogram printed another shorter negative bar.
MSCD shows that overall market sentiment is firmly optimistic though volume increased in slower pace. The round bottoming process of the Histogram further confirmed the initial stage of reversal. Market sentiment will pick up slowly unless disturbs by external issue again.
FBMKLCI
FBMKLCI failed to break its 12EMA instead finished slightly lower. As the Bollinger Bands are contracting, the index will be lingering in tight range between 1,570 and 1,562.
FBMSCAP jumped and formed a gap from previous closing during yesterday’s opening. The index broke through the 12EMA and now facing its crucial resistance formed by its 20MA and 30EMA around 12,621. Small-Caps Market needs more volume to support its recovery. Meantime, overhead resistance is the 20MA and support will be 12,525, yesterday’s low.
FBMACE broke through the 20MA but capped by the 30EMA to close at 4,170. Its immediate resistance remains as its 30EMA and then its previous high 4,191 which is near its 50EMA. Support was raised higher to 4,112. Charts indicated that ACE Market will continue its recovery unless disturbs by external issue.
Local sentiment progressed in cautiously optimism yesterday with the Intra-day Oscillator lingering in tight range during earlier session. However, buying emerged after break and pulled the Oscillator to end at its day-high at +553.68; gained 292.07 when compares with its starting point. The Average recorded a gain of 203.62.
At the end of the day, %K(yellow) of MSCD recorded as -107.70 (+56.58), %D(red) -125.80 (+26.36) and the Histogram -9.45 (+6.89). Both indicators surged higher and %K cut %D decisively. The Histogram printed another shorter negative bar.
MSCD shows that overall market sentiment is firmly optimistic though volume increased in slower pace. The round bottoming process of the Histogram further confirmed the initial stage of reversal. Market sentiment will pick up slowly unless disturbs by external issue again.
FBMKLCI
FBMKLCI failed to break its 12EMA instead finished slightly lower. As the Bollinger Bands are contracting, the index will be lingering in tight range between 1,570 and 1,562.
FBMSCAP jumped and formed a gap from previous closing during yesterday’s opening. The index broke through the 12EMA and now facing its crucial resistance formed by its 20MA and 30EMA around 12,621. Small-Caps Market needs more volume to support its recovery. Meantime, overhead resistance is the 20MA and support will be 12,525, yesterday’s low.FBMACE broke through the 20MA but capped by the 30EMA to close at 4,170. Its immediate resistance remains as its 30EMA and then its previous high 4,191 which is near its 50EMA. Support was raised higher to 4,112. Charts indicated that ACE Market will continue its recovery unless disturbs by external issue.
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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