Construction stocks may continue to rally

Construction index broke above its strong horizontal resistance at 245 today. At the time of writing, Construction index is at 246. Last week, this index broke above its downtrend line at 240. With these double breakouts, Construction sector is likely to begin its next upleg.

Based on this, we can consider investing or trading in construction stocks, such as IJM, Gamuda & WCT.


Chart: Construction's weekly chart as at Mar 27, 2013_4.00pm (Source: Quickcharts)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, IJM, Gamuda & WCT.