Local sentiment failed to maintain its gain from yesterday but reversed back to soft path again, today. The Oscillator slid to end at -69.78; gained 1.66 when compares with its opening point. The Average recorded a loss of 177.46.
In MSCD, %K (Yellow) computed as -272.61 (+17.29), %D (Red) -269.53 (+7.37) and the Histogram -25.41 (+5.58).
Market sentiment was under consolidation with volume reduced from as high as 3.59bn shares to 1.25bn shares. %K shows investors were hesitate to take position though FBMKLCI has broken through the 1,600 psychological level, for the second day. It is true that investors prefer market to undergo a meaningful correction before the breakthrough. The weak base index invites more worry than confidence.
However, the 100-Day Moving Average has been advancing for four consecutive sessions. There is no doubt that market sentiment is improving but uncertainty remains.
(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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