FINANCE: Possible End of CycleFrom 2003 to 2018, each cycle from peak to peak for FINANCE index lasts between 36-46 months. Recent high in early May 2022 is equivalent to 49 months.
Other indicators:
- Negative divergence on monthly chart (CCI)
- Similar negative divergence also appear on the monthly chart for big caps like PBBANK, MAYBANK, HLBANK, CIMB.
FINANCE trade ideas
FBM FINANCE: Minor pullback - accumulate before markup phaseIf banks pullback next week and gradually fall within that falling wedge pattern - bullish signal that accumulation phase is finally over and markup phase begins.
Using gloves selldown to bring down KLCI and affect retail sentiment provides perfect opportunity for smart money to accumulate.
Weekly Index Review: FinanceIt moves just like other recovery thematic play sectors like consumer, properties and constructions.
Forming a lower low and lower high instead.
MCO 2.0 continues. More people are jobless and more shops are closing down. Bad debt is the major concern now for next Quarter report.
Bursa Malaysia Finance IndexBursa Malaysia Finance Index, break up MA 200 days and is a sign of "worst may already over". Now is Long term investor's call.
The top 3 best recovery of 3rd Quarter earning 2020 banking counters:
1) HLB : +5.9%
2) PBBank: +2.2%
3) Maybank: -2.3%
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)