Sentiment Index - Malaysia Stock Market

Constructed and Written by Smartbiz

Local sentiment lost steam from strong opening amidst regional weaknesses, today. The Oscillator was seen swaying downwards to end off low at +370.47; lost 891.17 when compares with its opening point. The Average recorded a gain of 526.94.

In MSCD, %K (Yellow) computed as +189.64 (+61.31), %D (Red) +88.01 (+35.13) and the Histogram +47.81 (+13.45).

Technical Analysis
After today’s trade, both indicators hooked upwards and the Histogram printed yet another longer bar in the positive area. Market shrugged off weakness exhibited by the key index but gained support from rotational play of low-liner.

In MSCD, %K has successfully broken through its overhead resistance and exposed to its highest high for three months. Until then, any profit taking will still be absorbed as evident by the increasing volume.

(Note: Explanation for Intra-Day MSO and MSCD are archived under "Labels" at the lower portion of the sidebar.)