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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Market Outlook Date: 15/11/2020

 KLCI

Last week, KLCI managed to sustain above 1510 level and breaks above 1560 level.

Currently, KLCI seems like blocked by 1590 level and formed a hanging candlestick pattern on Friday. Furthermore, Stochastic at overbought region while the K% line and D% line getting closer with each other. 

So far everything still look good. Watch out for the bearish divergence signal. 

DJIA

Wow! DJIA formed higher high with all time high record at 29,933.

The gap going to be a strong support level as DJIA didn't close back the gap with 3 to 5 days from the first day of gap up.

Same here, the Stochastic at overbought region and flat. 

At the moment, DJIA looks bullish as it broken previous historical high. Watch out for bearish divergence signal.

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KLCI 12 Sectors Index Update Date: 08/11/2020

    Technology

Technology Index breaks above the uptrend channel and moving in a steeper uptrend channel. Tech counters very bullish for the past week. MACD bullish crossover, good sign.

Healthcare

Healthcare Index after retest the support level and formed 3 white soldiers expecting Healthcare to do well. Once Healthcare Index formed, higher high then it likely continue it upward movement and break new high.

Consumer

Consumer Index rebound steeply and breakout from downtrend line. MACD bullish crossover.

Plantation

Plantation Index breakout from the downtrend channel and formed higher high. As it up too steep, expecting retracement to happen and form higher low then only go higher.

Construction

Construction Index resistance level broken and formed higher high, expecting for retracement as well.

Industrial Product

Industrial Product Index moving within the uptrend channel, if it failed to breakout from the channel then it will retrace first before going higher. MACD bullish crossover above zero, a strong bullish signal.

Finance

Finance Index also move up together with other sectors but yet break the resistance level.

Energy

Energy Index stop at the downtrend channel upper line, need to continue monitor whether it going to form lower low or higher low.

Properties

Properties Index back into the sideway range again, if the index sustains above the support level then it might retest the sideway resistance level.

Transportation

Transportation Index volatility remained low, movement is small but slowly moving upward.

REITs

REITs Index rebounded from the downtrend channel lower line but the candle pattern not looking good.

Utilities

Utilities Index after retest the support level it rebounded again and remained in the sideway range.

 Telecommunication

Telecommunication Index get back into the sideway range, if it sustainable above the support level then it going to retest the sideway resistance level.

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