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Local sentiment retraced into negative tone again after a morning excitement. The Oscillator slid to end at -216.78; lost 1,419.43 when compares with its opening point. The Average recorded a gain of 79.51.
In MSCD, %K (Yellow) computed as -198.97 (+50.62), %D (Red) -214.75 (+23.55) and the Histogram -13.53 (+7.33).
Technical Analysis
After today’s trade, both indicators reversed upwards and the Histogram continued its round-bottoming processing.
As mentioned before, low-liners would steal the lime light of the centre stage once FKLCI was under consolidation. The prediction is true now as, in the past sessions, most of the hot seats of the market were occupied by Penny Stocks.
Having said that, one must remember that the chart theory remains unchanged. In order to confirm the reversal, %K must cut above the 100MA accompanied with the completion of the round-bottoming process of the Histogram. Meanwhile, MSCD shows market base is still weak and upside momentum was retarded by profit taking.
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)
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