Local sentiment stayed in cautiousness today as most Asia markets moved lower in choppy trading and FKLI lingering in tight range most of the time. The Intraday Sentiment Oscillator lost strength after a decent opening but last hour buying pulled it to end at its day-high at +333.07; gained 49.44 when compares with its opening point. The Average recorded a gain of 160.59.In MSCD, %K (Yellow) computed as -210.75 (+67.49), %D (Red) -267.61 (+34.27), %A (Pink) -255.08 (+15.68) and the Histogram -20.29 (+19.29).
After today’s market, all line indicators moved higher and %K pierced through %A after crossing over %D. The Histogram printed yet another shorter negative bar and almost completed its round-bottoming process.
Market sentiment continues its recovery path but the low volume is a concern. As %D remains below %A, the sustainability is still in doubts.
However, the continuous last hour accumulation indicates investor has shrugged off external disturbances and put more confidence in local market’s resilience. A slew of positive corporate news also motivates investors to take positions for future rewards. This is a long-term investment strategy with holding power in plays.
(Note: Explanation on Intra-Day MSO and MSCD are archived under "Labels" at the sidebar.)
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