Bursa Malaysia Construction Index
The recent price action has seen the index bouncing near the middle band, suggesting a period of equilibrium after the correction.
Resistance: The recent high around 320 can be considered a key resistance level. The price failed to sustain above this level in July, leading to the correction.
Support: The recent low of approximately 260 in August seems to be providing support, as the price bounced back from there in September.
The index is currently attempting a recovery, with today's candle showing a bullish move. However, it is still below the resistance level of 280-290.
The market is in a consolidation phase after a strong correction. A breakout above 290 would indicate a continuation of the uptrend, while a drop below 260 could signal further downside.
CONSTRUCTN trade ideas
BM Construction Sector - Retracement in ProgressBM Construction Sector.
Currently the index is in a retracement of a bullish trend. The index came close to the support level (RBS) and still above the Kijun Sen. The index is possible to retrace until 38.2% to complete wave 4. This sector has the potential to continue bullish.
2024 Construction ProspectHAPPY NEW YEAR...
2024 personally looking good on Construction sector. Sector index is entering STAGE 2 UPTREND after coming down since 2018!
Stock wise:
GAMUDA, IJM, SUNCON
RE is another sector that I personally looking good.
Tell me what's you guys think on your 2024 prospect.
Bursa CRONSTRUCTN's destiny There was a whole page news about "construction" 🏗️ at the newspaper 📰🗞️
Do those writter only realise when index / stocks up till an extend / reach euphoria level?🤔
As chartist, chart 📉📈 always my best friend.
Base on current scenario, it may pullback.
Once Hull MA turn red, it may look ugly. And need to stay intact with the uptrend Parallel Channel to continue rally.
CONSTRUCTCN, one last round prior to SEConstruction index, possible one last round before it heading to South East?🤔
>> price still above EMA 20.
>> if broken EMA 20, Parallel Channel as last support.
>> Bottom fish 🐟indicator has the signal.
>> Operators and big boys seems still there, awaiting retailers for the game?🤔
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
GAME ON untuk Construction ??-16/12 index construction membuat BO selepas membentuk rounding bottom .
- Dengan sentimen luar bertambah baik selepas berita vaksin ditemui dan bajet 2021 untuk sektor pembinaan bernilai billion ringgit diluluskan Parlimen akan membuatkan sectorial play untuk pemain2 construction .
- Namun masih awal untuk diperkatakan samada sektor ini mampu bertahan lama , sama2 kita kaji dan perhatikan .
Disclaimer :
Ini hanya bertujuan PENDIDIKAN . Bukan " Buy Call " . Semoga bermanfaat .
