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Friday, December 21, 2012

Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz 

Intraday Oscillator: Local sentiment reversed into negative tone as the key index gave back yesterday's gains. The Oscillator slid to finish at -134.89 lost 130.10 compared to its opening point at -4.79. The Average recorded as -120.39; lost 102.20 compared to -18.18 of the previous session.

MSCD: After today’s market, %K hooked downwards and the Histogram printed a slightly shorter bar in the positive zone.

MSCD data are appended as below:

Analysis: MSCD shows market strength has suffered a mild setback but the overall picture remains intact. The low volume shows selling is not intensive.

OSK wrote, "The near-term technical outlook of the FBM KLCI will be firmly bullish as long as it stays above the 1,595-pt level....From the current level, look for an immediate support at the 1,659-pt followed by 1,655 pts. " Today, FBMKLCI lost 11.75 pt to close at 1,658.85.

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

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