Gamuda & WCT- poised to test its downtrend line

We saw LMCemnt achieved a bullish breakout yesterday. This could be the beginning of a re-rating for the whole construction & the related building material sector. When we think of construction sector, we think of IJM, Gamuda & WCT. I have appended below the chart of Ga,muda & WCT. Both stocks are now pressing against their downtrend line- for Gamuda at RM3.60 & WCT at RM2.50. A break above these levels could be the start of the next upleg of these stocks.


    Chart 1: Gamuda's daily chart as at July 5, 2012 (Source: quickcharts)

 
 Chart 2: WCT's daily chart as at July 5, 2012 (Source: quickcharts)