Asian shares extended the global market rout Friday and despite some buying of beaten-down stocks, trading remained volatile, reflecting heightened fears of a fresh global recession.
Local sentiment opened in deep sorrow but gradually recovered towards the end of the day. The Intra-day Oscillator crawled higher to finish at -923.57; gained 867.76 when compares with its starting point. The Average recorded a loss of 1,233.03.
At the end of the day, %K (Yellow) of MSCD recorded as -423.07 (-147.21), %D (Red) -342.58 (-71.26) and the Histogram +29.09 (-27.40).
%K fell steeply to cut %D. The Histogram printed another shorter bar.
Key Index
FBMKLCI found its temporary support around 1,358 after another round of sell-down, yesterday. The index should be stabilized from here but upside movement will be capped by the short-term downtrend line.
Conclusion
%K is underneath %D now, market sentiment is in pure pessimism. It will take quite a long time for investor confidence to return.
(Morning Flash: Dow Jones edged up by 37 points, last night)
Local sentiment opened in deep sorrow but gradually recovered towards the end of the day. The Intra-day Oscillator crawled higher to finish at -923.57; gained 867.76 when compares with its starting point. The Average recorded a loss of 1,233.03.
At the end of the day, %K (Yellow) of MSCD recorded as -423.07 (-147.21), %D (Red) -342.58 (-71.26) and the Histogram +29.09 (-27.40).
%K fell steeply to cut %D. The Histogram printed another shorter bar.
Key Index
FBMKLCI found its temporary support around 1,358 after another round of sell-down, yesterday. The index should be stabilized from here but upside movement will be capped by the short-term downtrend line.
Conclusion
%K is underneath %D now, market sentiment is in pure pessimism. It will take quite a long time for investor confidence to return.
(Morning Flash: Dow Jones edged up by 37 points, last night)
Constructed and Written by Smartbiz (Chart of FBMKLCI extracted from ChartNexus)
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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