In a previous article (Read
more here), the MACD indicators of KLCI suggested that a reversal pattern might
be just around the corner. Since then,
the KLCI rose 38 points to 1609 on 8 Nov 2019.
The MACD divergence pattern is confirmed and the first target of this
trend is 1650.
So, which stocks are driving up the KLCI on the past few
weeks? The table below shows the
performance of the KLCI component stocks from 18 Oct 2019 till 8 Nov 2019. The top 5 gainers are Genting, CIMB, GenM,
HLFG, and KLK. All these stocks gained
more than 4% in 3 weeks!
In stock market,
market leaders will remain as market leaders until the trend ends. As such, those top performers are likely to
continue to outperform if the market continues to improve in the coming months.
Disclaimer: The above analysis does not imply any buy or sell recommendation. The author disclaims all liabilities arising from any use of the information contained in this article.
Disclosure: The author may have interest in the stocks of the companies in this article.
Disclosure: The author may have interest in the stocks of the companies in this article.
