Morning ... 7 am and US markets still showing the V-shape rebound since that Monday-selldown , the Japan's yen carry-trade stories ... so, no more selldown?
check CHARTS ... we have PASSED the PEAK and ON THE WAY DOWN.
Let me start with CONSTRUCTION sector today ... to show ... we have to SELL ON REBOUND.
The structure BROKEN, ya. So ... checking some of the leaders in the sector.
Gamuda : peaked around RM8.30 ... and probably that is the HIGHEST level we would seen in YEARS to come ... 10 years later ... 2030+ we shall check again, if I m still around. haha. They said GAMUDA might going back into index ...KLCI. Yes, Gamuda WAS previously a KLCI-component. It is a RM21bil market-cap company now. wow.
IJM : peaked around RM3.70 ... so, the current rebound is a time to sell your positions ... that is what the chart telling me ... I don't know if it could go higher ... but technically RM3.70 is the HIGHEST level won't be seen in years to come.
note : IJM was ONCE in KLCI too, ya...
If Gamuda and IJM are to retrace from here ... construction index would be down too but not KLCI as non of the counters inside KLCI, yet.
TEH
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