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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:
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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.
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:
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| DATE | A_OSC | %K | %D | %A | HGM |
| 12/18/2012 | 17.47 | -56.87 | -80.31 | -91.73 | 22.09 |
| 12/19/2012 | 19.72 | -45.09 | -72.90 | -87.68 | 23.23 |
| 12/20/2012 | -18.18 | -40.95 | -68.84 | -85.15 | 24.16 |
| 12/21/2012 | -120.39 | -53.17 | -72.66 | -86.43 | 23.23 |
| 12/24/2012 | -43.09 | -51.62 | -70.47 | -84.86 | 22.35 |
| LAST+- | 77.30 | 1.55 | 2.19 | 1.58 | -0.88 |
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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