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)
http://nexttrade.blogspot.com/2021/02/banking-stocks-bullish-breakout-achieved.html
