KLCI 12 Sectors Index Update Date: 07 Dec 2020

  Technology

Technology Index breakout from multiple top pattern and go  nicely. It might going to test the steeper uptrend channel upper line.

Healthcare

Healthcare Index drop to near support level with bearish candle on Friday.

If the support level broken, then the index will go lower to touch the channel lower line.

Consumer

Consumer Index breakout from the sideway resistance level but the breakout yet solid, need to monitor closely.

MACD and Stochastic already bullish crossover, not bad.

Plantation

Plantation Index formed multiple top pattern, need to monitor closely. If failed to breakout, is not looking good.

Construction

Construction Index move up strongly as per our last week expectation. The uptrend still intact.

Industrial Product

Industrial Product Index breaks above the middle trendline, go into very bullish zone. Likely to continue go higher.

Finance

Finance Index seems double top breakout but no solid need to monitor closely.

In care, the index breaks the mid uptrend line then need to watch out.

Energy

Energy Index breakout from the channel with steeper movement and also breaks May 2020 resistance level. Stll looking good.

Property

Property Index breakout from the uptrend channel and breaks above the June 2020 resistance level. The index if move too steep with fall down.

Transportation

Transportation Index breaks multiple resistance level, bullish. 

Currently, the index stop at Feb 2020 resistance level.

REITs

REITs Index after formed harami pattern then shoot up. 

The index likely to break previous high.

Utilities

Utilities Index still within the sideway area.

Telecommunication

Telecommunication Index move up steeply after breakout from previous high.

On Thursday, the index breakout from the uptrend channel, bullish.

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Market Outlook Date: 07 Dec 2020

    KLCI

30 Nov 2020 to 4 Dec 2020:

KLCI formed lower low and higher high equal to sideway, we can see expanding triangle pattern.

Additionally, Friday KLCI formed bearish harami pattern, need to watch out. If KLCI didn't breakout from the triangle then it likely to go south to meet the lower line of expanding triangle.

At the moment, we see KLCI as sideway unless it breakout from the triangle.

Support at 1620, 1590, 1560

Resistance at 1660, 1690

DJIA

Wow! DJIA formed higher high with all time high record at 30,218.3.

On Friday, DJIA formed bullish doji sandwich pattern, bullish sign.

DJIA need to go higher to avoid forming bearish divergence with indicator which is a weakness sign.

Since, DJIA supported by the right most trendline nicely, the trend is still good.

Support at 29900, 29200
Resistance at 30300, 31100

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KLCI 12 Sectors Index Update Date: 29/11/2020

 Technology

Technology Index still having reaction with the old uptrend channel. Currently, it formed hammer when reaching the channel upper line. Need to watch out as the index formed Triple Top if failed to break above the resistance level then expecting sideway or retracement.

Healthcare

Healthcare Index still within the sideway area and also the downtrend channel area. Fortunately, there is a bullish candlestick pattern. Expecting it to test the channel upper again.

Consumer

Consumer Index breaks below the middle trendline, the bullishness is reducing and it still within the sideway area. MACD still above and no bearish crossover, overall trend still positive.

Plantation

Plantation Index formed bearish engulfing on Friday, bearish signal. It also falls back into the previous sideway area. Please be careful.

Construction

Construction Index after retraced 3 days and formed a long bullish candle to recover the retracement movement. Continue looking strong plus Stochastic bullish crossover.

Industrial Product

Industrial Product Index also had a small retracement for 2 days then continue green colour again. However, the index formed shooting star on Friday after failed to breakout the resistance level from Jul 2019. Need watch out for bearish divergence signal.

Finance

Finance Index seems like supported by the middle trend line. As long the middle trend line broken then, the index likely to continue climb higher.

Energy

Energy Index after touched the channel upper line it formed bearish engulfing followed but harami pattern. It might going to retrace and test the channel lower line. If the channel support the index well then can seek for opportunity.

Property

Property Index repeated the same history again after touched the channel lower line and go up. Additionally, it has ABC breakout pattern, bullish.

Transportation

Transportation Index failed breakout from the Jan 2020 resistance level and formed bearish engulfing pattern. Currently, it moving sideway and might retest the resistance level again soon.

REITs

REITs Index last week closed back the gap. Bullishness is fading need to watch out plus it formed harami pattern on Friday.

Utilities

Utilities Index continue moving down sharply and formed bearish engulfing on Friday. It might going down further to test the sideway support line.

Telecommunication

Telecommunication Index continued to move higher and has a bullish ABC breakout signal. Looking good.

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Market Outlook Date: 29/11/2020

   KLCI

23 to 27 Nov 2020:

KLCI moving within a narrow range. On Friday it failed to break above the resistance level from Aug 2020. 

If KLCI failed to break the resistance level it likely to move sideway.
However, need to watch out for bearish divergence signal (if indicator forming lower higher).

Overall, KLCI uptrend still intact as long it don't formed lower low or break below the trend line.

Support at 1590, 1560, 1520
Resistance at 1620, 1660, 1690

S&R remained the same.

DJIA

Bravo! DJIA formed higher high with all time high record at 30,116.5

After DJIA hits new high on Wednesday but Friday it formed bearish harami cross, bearish signal similar with 17 Nov 2020 (bearish harami cross).

Please watch out for big bearish candle.

DJIA uptrend still good to go as long don't break below the right most line.

Support at 29200, 28900, 28400
Resistance at 30300

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KLCI 12 Sectors Index Update Date: 22/11/2020

Technology

Technology Index back into the bigger uptrend channel range and still within the steeper uptrend channel range. Need to monitor closely, if it break out from the steeper uptrend channel then it will likely to retest the bigger uptrend channel support line. Both MACD and Stochastic also bearish crossover.

Healthcare

Healthcare Index rebounded after breakdown from the sideway support level and back into the sideway range. It likely going to test the sideway resistance level. 

Consumer

Consumer Index last week retraced and formed a bullish harami pattern on Friday. Overall, the bullishness of Consumer Index still intact can continue see this sector counters.

Plantation

Plantation Index retested the resistance level from Feb 2020 but failed to breakout. Currently, it still maintained above the uptrend trend line but last week movement is very small. MACD is positive but Stochastic is flat and K% and D% touching each other, need to watch out for retracement.

Construction

Construction Index continued to move up after breakout from the flag formation on Friday and broke the resistance from Jul 2020. MACD histogram turned green, bullish.

Industrial Product

Industrial Product Index had a solid breakout from the 2019 year end resistance level. The index still very bullish and the momentum is still good to go. 

Finance

Finance Index moved up steeply since 3 weeks ago and retest the March 2020 by last week. On Wednesday it started to retrace. Overall, Finance Index still very bullish can continue to look but wait for the retracement end first.

Energy

Energy Index still within the uptrend channel. The index start to retracement after touched the upper line of the uptrend channel. At the moment, the price not yet breached the 50% range of the bullish candle body. Will the price touched uptrend channel lower line and go up again? Monitor it closely.

Property

Property Index moving in a narrow range steep uptrend channel. The index is near to the channel lower line again. The history might repeat again when the price touched the line and go up.

Transportation

Transportation Index failed to have a solid breakout from the middle line for twice. Currently, the index testing Jan 2020 resistance level. Need to watch out.

REITs

REITs Index last week gapped and retrace from the recent new high. Next resistance level to be tested is Sep 2020 resistance level. Next week, the index might test the middle line.

Utilities

Utilities Index failed to breakout from the sideway resistance level and drop below previous high. Need watch out as the index might retest the sideway support level.

 Telecommunication

Telecommunication Index the sideway resistance broken and the index moving up steeply. It likely to continue up until hit the uptrend channel upper line.

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Market Outlook Date: 22/11/2020

  KLCI

KLCI after moving up steeply for 2 weeks, it finally retraced just for 2 days then close green again with bullish harami pattern.

Would this signal the end of retracement?

Overall, KLCI uptrend still intact. 

Support at 1590, 1560, 1520
Resistance at 1620, 1660, 1690

DJIA

Again! DJIA formed higher high with all time high record at 29,964.3.

Last 2 weeks gapped up space until now not yet cover back, DJIA quite bull as it didn't close back the gap within 3 to 5 days from the gap up.

DJIA started to retrace since Tuesday but seems to be found support around 29200.

DJIA uptrend still good to go as long don't break below the right most line.

Support at 29200, 28900, 28400
Resistance at 29900, 30300

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KLCI 12 Sectors Index Update Date: 15/11/2020

     Technology

Technology Index supported by previous uptrend channel trendline. Upward movement still intact.
Watch out for the resistance from the steeper uptrend channel.

Healthcare

Healthcare Index moving sideway for the past 4 trading days and formed the candles with small body and longer lower shadow. Buying pressure is there. Healthcare might going to boom anytime.

Consumer

Consumer Index doing very very well for the past one week. Currently, it stop at resistance level. It need to break 2 resistance level to go higher.

Plantation

Plantation Index breakout from the resistance level and formed higher high. Stochastic moving flat watch out for retracement.

Construction

Construction Index failed to break above the resistance level for the past 3 days. The upward movement was halt, need to watch out.

Industrial Product

Industrial Product Index very bullish and breakout from the uptrend channel. Currently, it retest 2019 year end resistance level. If the resistance level broken, then the index is going higher.

Finance

Finance Index breakout from the downtrend channel and going to test the May 2020 high.

Energy

Energy Index breakout from the downtrend channel but failed to go back into previous sideway range. We can see a bearish doji sandwich was formed. Need to monitor closely.

Properties

Properties Index moving up steeply since early of Nov 2020. The uptrend line seems to be a great support for the index upward movement.

Transportation

Transportation Index breakout from the uptrend channel and going to retest June 2020 high. Need watch out as double hanging man was formed.

REITs

REITs Index finally breakout from the downtrend channel. If the next 3 to 5 trading days it don't go back into the channel then this is a solid breakout.

Utilities

Utilities Index at the moment still failed to sustain above the May 2020 resistance level and formed bearish engulfing pattern. Need to monitor closely.

 Telecommunication

Telecommunication Index going to test the sideway resistance level. If the resistance level broken then looking forward to move higher.

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