Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Local sentiment progressed in cautious tone with the Oscillator slid but last minute support pulled it to end at +576.08; gained 248.07 when compares with its opening point. The Average recorded a gain of 295.78.

In MSCD, %K (Yellow) computed as -160.77 (+82.98), %D (Red) -198.40 (+39.55) and the Histogram -36.17 (+18.45).

Technical Analysis

After today’s trade, both indicators reversed upwards and the Histogram continued its round-bottoming processing.

The fact that %K has cut %D and broken through its resistance line indicates market sentiment is well on its way to recover. The significant hike of total volume is evident that investor has gained confidence and accumulating stocks especially low-liners. However, market base remains weak as all indicators including the 100MAV were all soaked in the red. To confirm the reversal, the best indication should be when %K cut the 100MAV subsequent to the completion of the Histogram’s round-bottoming process.

(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)