Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Local sentiment turned weaker with the Oscillator slid to end off low at -462.76; lost -267.21 when compares with its opening point. The Average recorded a loss of 475.55.

In MSCD, %K (Yellow) computed as -209.19 (-48.41), %D (Red) -218.94 (-20.54) and the Histogram -26.99 (+9.18).

Technical Analysis

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

Market sentiment has gained its momentum but progressed in cautious tone. This is evident by the 100MA which started to hook upwards after a long streak of downtrend movement. Another positive indication is both indicators remain above the resistance-turned-support line and %K stays above %D.

However, as mentioned before, confirmation of reversal should come from the breakthrough of 100MA by %K accompanied with 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.)

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