Yesterday, TENAGA decided to go RED ... that ENERGY generated breaks the support of the index and TENAGA is the leader ... big bro of all ...
Arghh ... it is broken, no more uptrend ... I was so focus in these uptrending index : Tenaga, YTLPower...
So so ... sell on rebound.
Is TENAGA still uptrending ... was checking ... and only supported by 100MA ... so, to me it is start of DOWNTREND.
With Tenaga , YTL and YTLPower diving down, UTILITIES index would be bearish and these are index-linked components ... expect KLCI to move lower ... 1600 next?
TEH
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