Sunday 29 November 2020

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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