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Thursday, December 13, 2012

Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz 

Intraday Oscillator: Local sentiment turned cautious as analysts said the key index was near peak. The Oscillator finished at -90.56, lost 121.37 compared to its opening point at +30.82. The Average recorded as -102.57; lost 188.26 compared to +85.69 of the previous session.

MSCD: After today’s market, %K hooked slightly down but the Histogram continued to print positive bars.

MSCD data are appended as below:

Analysis: MSCD shows market sentiment has turned cautious but remains on track. Retailers mostly stayed sidelined while watching on the sustainability of the key index.

OSK wrote today: While the bulls are charging forward with great confidence at the moment, we would like to warn that a potential “Head and Shoulder” bearish reversal pattern may be formed should the FBM KLCI fail to crack above the 1,655-pt level, which is the peak recorded in Aug 2012.

Note: Explanation on MSCD can be found under "Label" at the sidebar. 

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