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Monday, December 24, 2012

Sentiment Index - Malaysia Stock Market

Constructed and written by Smartbiz 

Intraday Oscillator: Local sentiment moved into holiday mood with the Oscillator gradually lost strength in low volume to finish at -47.23; lost 85.29 compared to its opening point at +38.06. The Average recorded as -43.09; gained 77.30 compared to -120.39 of the previous session.

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

MSCD data are appended as below:

Analysis: Market sentiment was mute in a short trading week with retailer mostly sidelined. MSCD shows market strength is weak but uptrend remains intact.

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. As we mentioned before, the market may extend its rally, probably with even greater momentum after violating the 1,655-pt level... The next resistance is the psychological 1,700 pts. Failure to break above 1,675 pts and followed by a close below 1,664 pts however, suggests that selling could make a comeback. "

Today, FBMKLCI gained 10.55 pt to close at 1,669.40.

Dow Jones lost more than 120 pts, Friday. Wishing you a Merry Christmas!

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

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