Finance Sector Breakdown

Finance broke below the uptrend line and testing the support at 14018. Beware

Finance Sector

1) Overall Finance Sector broke the uptrend line and it is going to a downtrend or consolidate between 14194 and 14018.
 2) Volume starts to decrease
3) MACD - 4G2R and Bearish Crossover detected
4) RSI - At overbought and broke below the 70% ( Bearish)
5) Sto - Bearish Crossover and broke below 80% ( Bearish)

Entry Price - 14196
Stop loss - 14018
Take Profit - 14308
 

Finance Sector ..

Observation
1) Trendline - Downtrend ( Bearish)
2) HH - Formed Lower High but not yet formed lower low
3) MACD - Bearish but Histrogram is going up ( Bullish Divergence)
4) RSI - Bearish but Bullish Divergence
5) ADX - Momentum Weak and Bearish
6) Sto - Bearish but Bullish Divergence

Conclusion
Entry Price - 13625 ( For Bullish Harami)
Stop Loss - 13500
Take Profit - 13830 (R1) ,13915 (R2) and 14061 (R3)

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Finance Sector Rebound

Lets continue to analyst the finance sector because for any stock market rebound we need the finance sector as the support to follow the market to rebound..

Watch closely on how Finance and Trading Service Sector are trailing the KLSE index closely. With the rebound on KLSE, Finance and Trading Service Sector also follow and rebound..

Observation
1) Trend Line - Broke down the Uptrend but rebound back to the positive region ( Bullish)
2) HH - Formed a lower low at 13506 ( Bearish) but this sector rebounded up
3) MACD - Still in bearish condition but the blue signal is closing up the red signal for a bullish crossover
4) RSI - Broke above 30% on 17 Feb and going up ( Bullish)
5) ADX - Average Momentum but bearish

Condition
We need to observed more on the Finance sector because we will never know whether there will be any U Turn again to formed a lower higher before the 14090..

Entry Price - 13960 ( Risky)
                     14100 ( Safe)

Stop loss - 13810 (S1) and 13570(S2)
Take Profit - 14272 (R1) and 14382 (R2)



Let review the performance of the top banks

Ranking
1) AFFIN
2) PBBANK
3) HLBANK
4) RHBCAP
5) CIMB
6) MAYBANK
7) AMMB


Let observed AMMB, MAYBANK and CIMB the laggard counter


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Finance Sector

 First time touching on Finance Sector and this sector has went down pretty badly after Foreign Fund went out for KLSE.

Observation
1) Trend - Broke the Uptrend Line ( Bearish)
2) HH - Formed lower high at 14090 and retracing (Bearish)
3) MACD - Bearish and awaiting for 4R1G for bullish reversal by 17 Feb
4) RSI - At 14% oversold and waiting for 30% break out for bullish reversal
5) ADX - Weak Momentum and Bearish

Conclusion
1) Downtrend Due to the ejection of Foreign Fund
2) With Dow Green, this will provide positive sentiment for KLSE market to rise again and let hope Finance Sector will get a bullish reversal with a strong Harami

Entry Price - 13700 points ( Strong white candle or Harami)
Stop Loss   - 13400
Take Profit - 14061 (R1) , 14382 (R2) and 14539(R3)


Let look at the performance with the Bank Giants..

Ranking
1) AFFIN (Leader) / (Drop 7.7%)
2) RHBCAP (Drastic Drop 10.9%)  <----------Monitor
3) PBBANK (Drop 3.6%)
4) AMMB     (Drop 16.4%)  <---------- Monitor
5) HLBANK (Drop 6.6%)
6) MAYBANK (Laggard) / ( Drop 8.8%)
7) CIMB (Laggard) (Drastic drop at 13.5%)   <------ Monitor



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