Sunday 22 November 2020

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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