The Financial Services index has broken above its intermediate downtrend line, RR at 14700. This may lead to an uptrend in Financial Services index in the near term.
Chart 1: Financial Services index's daily chart as at Feb 16, 2021 (Source: Malaysiastock.biz)
Two banking stocks that may likely join in an uptrend in Financial Services index are Maybank and CIMB. Both of these stocks have also broken above their respective downtrend lines.
Chart 2: Maybank's daily chart as at Feb 16, 2021 (Source: Kenanga's BTX chart)
Chart 3: CIMB's daily chart as at Feb 16, 2021 (Source: Kenanga's BTX chart)
No comments:
Post a Comment