Glove, Tech and Aviation are former things now...It is Property theme now riding on property recovery...LBS is taking the property bullrun by its horns with whopping 2.5 bil unbilled sales...
the retracement from high 62 is rather deep ( a zig zag pattern) it would go down to close the gap up at 52.5 for a rebound ...the up trend is still intact should long as it did not break down 49.5
anyway do not wish to get too far ahead but thought it might be of interest to note that it could possibly be a bullish cup and handle pattern: old high 59 and new high handle 62 then we would likely see the price going up to 80
Hi SpeakUp, market is always 6 mths ahead of real economy...So if property is set to recover strongly in March 2024, then stock prices will reflect that optimism with 6 mths effect ahead
Property market still slow even in first half of next year due to purchasing power of many Malaysians just so so n if next year the US falls into recession or China property market bubble get burst , next year Malaysia property market back to pessimistic like 2020-2022…. It looks like property counters just being pushed up by short term players …
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nicky
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Posted by nicky > 2023-09-01 12:41 | Report Abuse
I think it is Properties' trend now... glove, aviation, tech are over at the moment